Magnificent 7 stocks news, Oct 29, 2026

Amazon fell 4.25% after reporting Q3 results on the day, with total revenue of $201.9B up 12% but just below the $202.3B consensus and EPS of $1.89 missing the $1.96 estimate. Q4 revenue guidance of $240–247B came in under the $244.51B average estimate, and the operating income midpoint of $31B trailed the Street's $33B expectation. AWS was the bright spot, growing 39.3% to $46B with operating income up 55% to $17.8B, while Q3 operating income hit a record $28.1B at a 13.9% margin. Capex nonetheless surged to $77.3B, trailing twelve-month free cash flow swung to negative $42.4B, and the company raised $48.1B in new long-term debt. Advertising growth decelerated to 11% from 26%, and online store sales of $68.5B also fell short of expectations.

GOOGL plunged 12.64% in the worst single-day selloff in its history, a roughly $500 billion wipeout that leaves the stock down about 18% since the start of October and near the bottom of its 52-week range. Search and other revenue grew 12% to $63.35B, the slowest pace in five quarters, and Google Services revenue of $96.3B came in below the roughly $98.5B expected. Alphabet said capex will rise significantly again in 2027 on top of the $195–205B guided for 2026, while Q3 capex of $51.4B was up 114% and free cash flow was negative $9.07B, a second straight negative quarter. Operating income excluding an $8.7B equity-securities loss rose 30% to $40.6B, and Google Cloud revenue climbed 103% to $30.7B with cloud operating income of $11.1B. The stock also triggered a death cross as its 50-day moving average slipped below its 200-day.

Meta rose 1.96% on a day when Alphabet and Amazon fell sharply, bucking the weakness across its communication services peers. The company said it will consult publishers before finalizing content-scraping terms, prompting WAN-IFRA, representing over 20,000 media brands, to demand enforceable opt-out rights and licensing negotiations. AMD confirmed that initial Helios rack-scale systems are installed and undergoing testing at Meta, advancing a partnership covering up to 6 gigawatts of AI infrastructure. Two Senate Democrats wrote to Mark Zuckerberg raising privacy and safety concerns about Meta's smart glasses. Meta also quietly launched Style Sketch, an AI outfit-planning app that builds virtual wardrobes from Instagram photos.

Microsoft ended essentially flat after unveiling plans to sell as much as $25 billion in bonds across as many as 10 tranches with maturities from 2 to 40 years, run by Wells Fargo, JPMorgan and UBS. CFO Amy Hood said the company will pursue additional funding sources when attractive to preserve cash flow and flexibility, citing guided capex of over $50 billion for fiscal Q2 and $170 billion across calendar 2027. The issuance follows fiscal Q1 results in which GAAP net profit rose about 32% to $36.63 billion and free cash flow of $18.6 billion beat expectations. Jim Cramer contrasted Microsoft's financial discipline with Alphabet's spending, noting Alphabet's shares fell over 12% the same day. A voluntary buyout offer to roughly 60,000 employees continues, with decisions due by early December.

NVDA slipped 0.80% as the New York Times reported that US officials found a figure close to the CEO was suspected of helping divert restricted Nvidia AI chips to China and funneling information to Beijing. Nvidia spokesperson John Rizzo said the Megaspeed diversion allegations were thoroughly investigated and debunked last year, and Jensen Huang told Bloomberg his dealings with Megaspeed were normal and that every GPU deployment has been counted. The DOJ's $12.93 billion Hugging Face acquisition probe continues to draw coverage, examining whether Nvidia could gain control of a key AI distribution point alongside its acquisitions, investments and sales practices. Broader markets were weak, with the Nasdaq Composite down 1.7% amid pressure on AI-linked names following Alphabet's selloff. The shares remain well below their 52-week high, with next earnings due 2026-11-17.

Tesla was nearly unchanged, edging down 0.23% as Elon Musk said the SpaceX merger would need 1.98 billion Tesla yes votes. Barclays mapped an all-stock swap implying Tesla holders receive about 0.7 SpaceX shares each before any premium, valuing the combined company around $3.6 trillion, with a Tesla shareholder meeting set for 2026-12-06. Morningstar raised its fair value estimate to $475 from $450 on higher FSD adoption assumptions and a lower capex outlook. The NLRB dismissed a complaint alleging Tesla thwarted union organizing at its Buffalo plant, and a Seoul court ruled Tesla never promised fully self-driving capability against 88 owner refund claims. Tesla reported 1.74 million active FSD subscriptions in Q3, up 67% year over year, while Seoul police booked 80 people for unauthorized FSD activation using jailbreak devices.