US Big Tech Earnings Preview: Tesla Faces Pressure, Nvidia Still Shines

The third-quarter earnings season for Big Tech is about to kick off — a period that often proves to be a make-or-break moment for the broader stock market. With investors seeking clues on whether the recent tech rally can sustain its momentum, the upcoming reports from major players like Tesla, Alphabet, Microsoft, Meta, Apple, Nvidia, and Amazon are set to take center stage.

With AI, cloud computing, and digital advertising still driving sentiment, Big Tech’s results could determine whether U.S. equities maintain their resilience into year-end.

A string of upbeat reports may reignite growth optimism, while any weakness — especially in margins or forward guidance — could weigh heavily on valuations after a strong 2025 rally.

Tesla (TSLA) — Reports on Oct 22

Tesla will kick off the Big Tech earnings season. Analysts forecast revenue of $26.16 billion, up 3.9% year-on-year, but adjusted net profit and EPS are expected to decline 24.29% and 27.53%, respectively.

The market will focus on whether Tesla’s aggressive price cuts, especially in China and Europe, have further squeezed margins and how the company plans to stabilize profitability amid slower EV demand.

Alphabet (GOOGL) — Reports on Oct 29

Alphabet, Google’s parent company, is expected to deliver $99.71 billion in revenue, a 12.96% annual increase. Both adjusted net profit (+14.24%) and EPS (+8.42%) are projected to grow solidly.

Key areas to watch include the recovery of digital advertising, YouTube’s monetization trends, and the profitability of Google Cloud, as the company continues to invest heavily in artificial intelligence.

Microsoft (MSFT) — Reports on Oct 29

Microsoft is projected to post $75.50 billion in revenue, up 15.11% year-on-year, with net profit expected to climb 10.93% and EPS up 11.64%.

Investors will look for further momentum from Azure cloud services and new AI-driven tools such as Copilot. Strong enterprise demand and sustained cloud growth remain key drivers for Microsoft’s valuation premium.

Meta Platforms (META) — Reports on Oct 29

Meta’s revenue is forecast to rise 21.90% year-on-year to $49.48 billion, reflecting a strong rebound in digital advertising. However, adjusted net profit may dip 2.77%, even as EPS is set to rise 9.17%.

The market’s attention will be on Meta’s spending discipline, especially in Reality Labs and AI infrastructure, as well as its ability to maintain advertising momentum heading into the holiday season.

Apple (AAPL) — Reports on Oct 30

Apple’s Q3 revenue is estimated at $101.68 billion, up 7.11% from last year, with net profit up 4.33% and EPS up 7.57%.

Investors will focus on early performance of the iPhone 17 series, services growth, and trends in Greater China — a region that has faced headwinds from domestic competitors and softer consumer demand.

Nvidia (NVDA) — Reports on Nov 19

Nvidia continues to dominate the AI chip market, with analysts expecting revenue of $54.71 billion, up a massive 55.95%, and adjusted profit surging 52.49%. EPS is forecast to jump 53.72%.

The company’s ability to meet overwhelming AI demand and manage supply constraints will be critical to sustaining its growth trajectory. Nvidia’s results are likely to be a bellwether for the entire AI ecosystem.

Amazon (AMZN) — Report Date To Be Announced

Amazon’s exact Q3 report date has yet to be confirmed, but the e-commerce and cloud giant is expected to post $177.69 billion in revenue, up 11.84%, with adjusted profit growing 10.91% and EPS up 8.05%.

Investors will watch for signs of margin improvement in its core retail segment and steady expansion in AWS, which remains Amazon’s main profit engine.