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The bulls are back on Wall Street — at least for Big Tech.
The NYSE FANG+ Index surged on Thursday, lifted by a wave of strong earnings from tech's biggest names. Microsoft stole the spotlight with a blowout quarter, Meta returned to form, and Nvidia rode the AI hype train higher.
The Nasdaq popped over 2%, and the S&P 500 rose around 1% — largely driven by this tech-led charge. Here's how the FANG+ giants fared:
Microsoft (MSFT): Showstopper of the day
The stock soared 9-10% to an all-time high, thanks to a strong cloud performance and upbeat guidance. Azure continues to defy slowdown fears, and Microsoft's balance of AI bets and cost control impressed everyone — so much so, it reclaimed the world's most valuable company title from Apple.
Meta (META): Ads are back, baby
Meta rose 5-6% after a strong beat on revenue and profits. The ad business — once thought to be past its prime — surprised to the upside. And after last year's painful restructuring, margins are now looking healthy. Meta's rebound is for real.
Apple (AAPL): Good quarter, bad reaction
Revenue rose 5% and EPS by 8%, but the stock still fell 3-4% after hours. Why? China sales are soft, iPads and wearables are slipping, and there's no forward guidance. A $100 billion buyback wasn't enough to win over traders looking for surprises.
Amazon (AMZN): Great quarter, cautious outlook
Q1 was solid — 10% revenue growth, earnings beat — but shares dipped 3-4% after hours. Management's tone was cautious, citing international "uncertainty" and hinting at macro pressures. One-time win, but guidance spooked the street.
Netflix (NFLX): Quiet strength
No drama here. Netflix ticked up further, riding strong momentum from its April earnings beat. Revenue grew 12.5%, profits jumped 25%, and the ad-supported tier is gaining ground. A rare tech name with growth and margin traction.
Alphabet (GOOGL): Cloud clears up
Shares rose 2%, building on last week's post-earnings rally. Google Cloud posted record profits, and ad revenue held up well. While rivals cut back, Alphabet's investment in AI and search is still delivering.
Nvidia (NVDA): Riding the AI wave
The chipmaker climbed 4-5%, even without fresh earnings. With Meta and Microsoft boosting AI spending, expectations for Nvidia's next quarter are already sky-high. More capex = more GPUs = more upside — that's the logic traders are buying into.
Tesla (TSLA): Treading water
Tesla gained just 0.3%, largely on news that Elon Musk isn't stepping down. The denial calmed nerves, but with margins under pressure and price cuts ongoing, the EV giant isn't participating in the tech euphoria — at least not yet.
CrowdStrike (CRWD): Riding the sentiment wave
Up a couple of percent, CrowdStrike continues to benefit from macro tailwinds in cybersecurity and reduced tariff risks. Investors are rotating into defensive growth — and this name fits the bill.
ServiceNow (NOW): Still riding the post-earnings high
Shares held near recent highs after a 15% surge last week, thanks to better-than-expected earnings and bullish guidance. Workflow automation is hot again, and ServiceNow is leading the charge.
Final take
The FANG+ Index is doing the heavy lifting — and for now, the growth story is intact. Microsoft and Meta are flying, Netflix is steady, and Nvidia is still the AI favorite. But cracks are showing at Apple and Amazon. Guidance matters more than beats.
Bottom line: Big Tech is humming again, but don't confuse this rally for a free pass — this is a market that rewards clarity and punishes caution.
Disclaimer: This story was created with the assistance of artificial intelligence and is intended for informational purposes only. Please take it with a pinch of salt and do your own research or consult a financial advisor before making investment decisions.
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