Big Tech Earnings Set $750B Market Move

Nasdaq futures rise 0.4% as investors await earnings from Alphabet, Amazon, Meta and Microsoft, representing over $750 bn options‑implied move.
Analysts forecast strong growth: Alphabet 17% revenue rise with 45% Cloud growth; Meta $56 bn revenue; Amazon AWS ~25% YoY; Microsoft estimates seen as high.
OpenAI missed targets, semiconductor weakness and possible capex surprises raise concerns of heightened market volatility.
Semiconductors now account for about 15% of U.S. market cap, double the dot‑com peak, prompting caution on AI‑driven optimism.