Magnificent 7 stocks news, Nov 2, 2026

AMZN rose 2.2% after Phillip Securities raised FY2027 revenue estimates 2% and net income 3%, citing AWS's 39.3% growth, a model-agnostic AI strategy and custom chips. Forty-two of 60 analysts now rate the shares Buy or Strong Buy, with an average target of $326.92. JPMorgan's Doug Anmuth projected capex reaching $395B in 2027 and $476B in 2028, well above the ~$220B guided for 2026, citing strong demand visibility underwriting 40%+ growth. Voters in Sunbury, Ohio decide Tuesday on a ballot measure that could block Amazon's planned $2B data center, and all six data-center measures decided earlier this year resulted in greater restrictions. Gene Munster warned that embracing AI shopping bots risks undermining the advertising model by redirecting buyers to third-party retailers.

GOOGL eased 0.3% as Alphabet launched a €6 billion bond sale spanning 2-to-19-year maturities, its second euro issue this year after €9 billion in May. Wells Fargo cut its price target to $371 from $417 while keeping Overweight, citing AI Overviews' drag on paid-search clicks persisting through at least Q1 2027, while Citi raised AI service revenue estimates through 2028 and Phillip Securities reiterated Buy at $375. Alphabet bought back zero Class A or Class C shares in the first nine months of 2026 versus roughly $62 billion in all of 2024, as AI capex consumes available cash. An editorial analysis argued the EPS miss was largely a non-cash $8.7 billion equity-securities loss that cut $0.55 from diluted EPS, while operating income still rose 29.93% to $40.58 billion. Rosen Law Firm reminded investors of a Dec. 1, 2026 lead-plaintiff deadline for a securities class action covering shares bought between May 19 and July 16, 2026.

META declined 1.3% amid plans for at least $20 billion of cross-border bonds, potentially dollar tranches across 5–30 year maturities and euro notes in six tranches, marking its first euro-denominated offering. Snap settled its teen-addiction claims two days before opening arguments in the Los Angeles bellwether trial, and Meta had already settled its remaining claims with plaintiff K.D.B. on Oct. 30. S&P's negative outlook flags leverage rising from ~0.1x in 2025, driven largely by data-center leases for the Beignet and Sopaipilla projects, with projected free-operating-cash-flow losses of $22B in 2026 and $71B in 2027. The UK CMA's monopoly-abuse investigation into Meta's AI scraping continues, and Meta's business-account terms remain paused after Norway's temporary injunction. Lionsgate and Meta partnered on Meta's first Hollywood 3D conversion, with 'Hunger Games: Sunrise on the Reaping' streaming in 3D on Meta VR Glasses after its cinema run.

MSFT fell 2.8%, the steepest decline in the portfolio, as the company priced its $25 billion bond with $115 billion of demand. The ten tranches carry coupons from 4.85% for notes due 2028 to 6.35% for notes due 2066, plus two $1 billion floating-rate tranches, and Microsoft holds AAA ratings from both Moody's and S&P. Baird raised its price target to $600 from $500 on October 30, citing Azure acceleration and Microsoft Cloud generating $63.9 billion of $92.3 billion quarterly revenue. Capex reached $115.95 billion in fiscal 2026 with a forecast of $191.51 billion for fiscal 2027, absorbing about 64% of $182.94 billion operating cash flow. Commercial remaining performance obligations reached $677 billion, up 73% year over year, and Microsoft expanded co-selling collaboration with Lumen Technologies through Microsoft Marketplace.

NVDA lost 1.26%, trading near its 200-day moving average of $204.38 after a 4.22% single-session decline, leaving the stock down 11.4% over the past month and 15% below its 52-week high of $243.37. The latest reported quarterly free cash flow was $21.34 billion, up nearly 59% year over year, bringing first-half FY2027 FCF to $69.9 billion. Musk said SpaceX closed $40 billion of debt financing to buy GPUs and expects at least 13 gigawatts of compute by end-2027, against Nvidia's forecast of roughly 70% revenue growth for fiscal 2028. A BenchLife report via Guru3D says design kits for a rumored 24GB RTX 5080 have not reached add-in-board partners, putting a January 2027 retail launch in doubt. The VanEck Semiconductor ETF carries approximately 21% Nvidia exposure, which one analyst flagged as a concentration vulnerability if AI spending slows.

TSLA added 1.0% as October European registrations surged by up to 271%, including a best-ever October in Norway where Tesla was the top-selling brand with a 9.8% market share. Tesla's Texas Robotaxi fleet reached 1,244 registered vehicles by Nov. 1, up 128% from 546 on Sept. 30, narrowing the gap with Waymo's 1,259 to just 15 vehicles. European results were uneven, with Denmark market share at only 0.73%, trailing BYD, Leapmotor, XPeng and MG. A shipper alliance called Z-Scale ordered 2,500 Tesla Class 8 electric trucks, described as the largest electric truck order in U.S. history. Offsetting that, Tesla's China retail sales fell 11.9% year-to-date to 381,088 units while BYD, Xiaomi and XPeng posted strong October sales, and Gary Black questioned the 200x+ P/E multiple as U.S. EV share slipped to roughly 52%.