AI Darlings Wrecked, Earnings Preview META, MSFT, AAPL, AMZN, Rate Hike Spook, Nvidia’s OpenAI Deal

**Josh Brown** (0:13)
All right, we're up, we're up. It is Tuesday 5 PM. We're back with an all new edition of What Are Your Thoughts? We have a jammed pack show, a lot to say, not a lot of time to say it in. I do want to give a couple of quick shout outs in the chat, mostly because people are saying nice things about my hair.
First, the nice thing about Michael, Leave the Gene Pool said, Batnick predicted that this broadening out would create a weird environment months ago. It's a great call by Michael, I agree. See Paul Breezy, JB got that John Gruden hair school for men look working. I guess Josh look like a-

**Michael Batnick** (0:52)
You could use a visor.

**Josh Brown** (0:54)
Yeah.

**Michael Batnick** (0:55)
It's visor season.

**Josh Brown** (0:56)
Josh look like a golden rooster on CNBC today. You're damn right I did. All right. Who else is here? Sam F is in the house, Cliff Peebles is back, Noah Turner says, what up? Magnus is here, Jacob's 2001, Bloom Energy, Blooming After Hours like Josh's hair. All right. That's enough of that.
Who's the sponsor tonight, Michael?

**Michael Batnick** (1:21)
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**Josh Brown** (2:20)
All right, gangsters, this is, we say this every quarter. And every time we say it, it's always true. We are in the most important week statistically and perhaps emotionally for earnings season. We are going to hear in the next two nights from four of the biggest companies in the world. And arguably the comments, not just the numbers from those companies, matter just as much for the rest of the overall market. Or do they?
Microsoft and META are tomorrow after the close. And the following night on Thursday, we are going to get Apple and Amazon. Quick programming note, I want to let you guys know, we are going to finish out the week with The Compound and Friends and we are bringing our friend and perhaps the world's foremost authority on big tech, Alex Cantruits, back on the show. So tonight, we are going to do a preview of the big storylines going into these reports. And then on Friday, we are going to give you like the postmortem. Here is what happens. The reveal and here is what you actually need to take away.
So we have you covered front and back. Let's, I guess, let's start with Microsoft. Michael, you said before, this is the one that you pay the most attention to, or you look forward to the most. Is that still true?

**Michael Batnick** (3:39)
Did I say that?

**Josh Brown** (3:40)
Yeah.

**Michael Batnick** (3:41)
I take it back. I don't remember saying, I don't remember thinking that. But go on, what did I say? I say a lot of things.

**Josh Brown** (3:47)
I don't know specifically, but I think you were just talking about it in terms of its importance to the ecosystem and maybe because it's in the biggest drawdown of the whole group and all that open AI exposure.
I think you said last time they reported, this is the one that you're looking most forward to. I don't know, I guess it's not still the case now.

**Michael Batnick** (4:10)
Feel like you might be misquoting me? I don't know.

**Josh Brown** (4:13)
Well, listen, here's the deal.

**Michael Batnick** (4:14)
I mean, Microsoft is the biggest software stock in the world. And so yeah, you're damn right, I'm interested to hear what they have to say, absolutely.

**Josh Brown** (4:23)
All right, we'll roll the tape back. We'll see if you ever said that or if my own internal AI hallucinated it.
I'm gonna give you the expectations and then, Michael, we can react to it.
$4.24 cents on earnings, revenue of $87.7 billion. The entire conversation around Microsoft is not about the software business these days. It's about Azure. Azure grew 40% last quarter. Investors want to hear 39 to 40% this quarter. The other big number, the CapEx number, $190 billion is what the company said they're on pace to spend for calendar 2026, which is an insane number.