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tech stocksTheStreet
•85% Informative
Five of the world's biggest tech giants, representing around $12 trillion in investor value, will publish September quarter updates focusing on AI spending plans.
The so-called Magnificent 7 tech stocks, which comprise around a fifth of the S&P 500, have driven outsized gains for the benchmark this year .
The mega-cap cohort, however, has trailed other sector gains for much of the past three months , falling a collective 3.5% since early July .
The iPhone 16 is seen as the conduit for its broader AI rollout, as it shares some of the development costs with app developers and search engine providers like Google and Microsoft .
The next few weeks will be the linchpin to confirmation that the AI "use case phase" have now begun within the enterprise world," analyst Dan Ives said.
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