Nvidia beat the estimate every quarter and still fell after 6 of 8 reports. How 9 Big Tech stocks moved after their last 8 reports, why a beat is no guarantee, and when they report next.
Which stocks do Wall Street’s best‑ranked analysts agree on? See them in Exent Gems →
By 6.9% on average, up or down, over the two sessions around a report, less than the 9.8% for a typical technology stock and close to 6.8% across the 1,002 US companies in our earnings study. The direction is close to a coin flip, even though these companies beat the estimate most of the time. The table covers each company’s last 8 reports, reports available as of Oct 20, 2026; Microsoft, Alphabet, Meta, Amazon and Tesla reported between Oct 21 and Oct 29, 2026, after this table’s data cut; their next‑session moves are in the Q3 2026 section; Apple’s Nov 2 report is not included yet.
| Company | Next report | EPS beats | Average move | Biggest rise | Biggest drop | Beat and fell |
|---|---|---|---|---|---|---|
| Microsoft (MSFT) | Reported Oct 28: −0.16% next session | 8 of 8 | 7.2% | +14.7% (Jul 29, 2026) | −9.8% (Jan 28, 2026) | 5 of 8 |
| Alphabet (GOOGL) | Reported Oct 28: −12.64% next session | 8 of 8 | 5.0% | +10.0% (Apr 29, 2026) | −8.5% (Jul 22, 2026) | 3 of 8 |
| Meta (META) | Reported Oct 21: −6.98% next session | 6 of 8 | 7.4% | +10.5% (Jul 30, 2025) | −11.3% (Oct 29, 2025) | 2 of 6 |
| Amazon (AMZN) | Reported Oct 29: −1.41% next session | 7 of 8 | 6.6% | +19.8% (Jul 30, 2026) | −9.7% (Feb 5, 2026) | 2 of 7 |
| Apple (AAPL) | Nov 2, 2026 (not in this data yet) | 8 of 8 | 3.1% | +3.7% (Apr 30, 2026) | −8.7% (Jul 30, 2026) | 5 of 8 |
| Nvidia (NVDA) | Nov 18, 2026 | 8 of 8 | 2.6% | +7.0% (Aug 26, 2026) | −5.1% (Feb 26, 2025) | 6 of 8 |
| Tesla (TSLA) | Reported Oct 21: −3.08% next session | 4 of 8 | 7.7% | +19.5% (Oct 23, 2024) | −15.6% (Jul 22, 2026) | 3 of 4 |
| Broadcom (AVGO) | Dec 9, 2026 | 8 of 8 | 9.5% | +22.7% (Dec 12, 2024) | −13.0% (Jun 3, 2026) | 4 of 8 |
| Oracle (ORCL) | Dec 14, 2026 | 5 of 8 | 12.5% | +37.7% (Sep 9, 2025) | −10.5% (Jun 10, 2026) | 3 of 5 |
Average move is the average size of the move, ignoring direction. Each company name links to its stock page, which lists every one of these reports with EPS and revenue against the estimate. The biggest single reactions: Oracle +37.7% after its Sep 9, 2025 report and Tesla −15.6% after its Jul 22, 2026 report. For the whole market, see how much stocks move after earnings, which covers 1,002 US companies and each one’s last 12 reports.
All 5 Big Tech stocks that reported third‑quarter 2026 results between Oct 21 and Oct 29, 2026 fell the next session, and 3 of them fell more than the S&P 500 index (SPY) that day. In the same reports, quarterly capital expenditures (cash spent on property and equipment such as data centers, servers and factories) rose 80% to 120% from a year earlier: $206.66B together in one quarter, against $99.52B in the third quarter of 2025.
| Company | Report date | Next‑session move | S&P 500 (SPY), same session | Q3 capex vs a year earlier |
|---|---|---|---|---|
| Microsoft (MSFT) | Oct 28, 2026, after the close | −0.16% (Oct 29) | −0.38% | $39.37B vs $19.39B (+103%) |
| Alphabet (GOOGL) | Oct 28, 2026, after the close | −12.64% (Oct 29) | −0.38% | $51.36B vs $23.95B (+114%) |
| Meta (META) | Oct 21, 2026, after the close | −6.98% (Oct 22) | −1.18% | $33.94B vs $18.83B (+80%) |
| Amazon (AMZN) | Oct 29, 2026, after the close | −1.41% (Oct 30) | −1.77% | $77.26B vs $35.10B (+120%) |
| Tesla (TSLA) | Oct 21, 2026, after the close | −3.08% (Oct 22) | −1.18% | $4.73B vs $2.25B (+110%) |
| Apple (AAPL) | Scheduled for Nov 2 | Pending | — | — |
| Nvidia (NVDA) | Scheduled for Nov 18 | Pending | — | — |
The move runs from the close on the report day to the close of the next session, adjusted for dividends; it is one session, so it is not directly comparable with the two‑session moves in the table above. Capex is each company’s “purchases of property and equipment” for the three months to September 30 (Microsoft’s line is “additions to property and equipment”, Tesla’s “capital expenditures”), from the earnings releases filed with the SEC: Microsoft, Alphabet, Meta, Amazon and Tesla. These are dated reactions, not a forecast: the data show what the stocks did, not why. The spending side is covered in Big Tech AI spending in 2026.
Often enough to matter: across these 9 companies the stock fell after 53% of EPS beats, against 43% across the 1,002 US companies in our earnings study. Nvidia is the clearest case: it beat every time, and the stock still fell 6 times, most recently after the May 20, 2026 and Feb 25, 2026 reports. The data measure the reaction, not its cause. Possible explanations include:
Nvidia reports next, on Nov 18, 2026, followed by Broadcom (Dec 9, 2026) and Oracle (Dec 14, 2026). Dates are the companies’ scheduled report dates and can move; these companies usually report after the US close. Microsoft, Alphabet, Meta, Amazon and Tesla reported between Oct 21 and Oct 29, 2026, after this table’s data cut; their next‑session moves are in the Q3 2026 section; Apple’s Nov 2 report is not included yet.
| Company | Next report | Last report | Move after last report | Average move |
|---|---|---|---|---|
| Nvidia (NVDA) | Nov 18, 2026 | Aug 26, 2026 | +7.0% | 2.6% |
| Broadcom (AVGO) | Dec 9, 2026 | Sep 2, 2026 | −3.4% | 9.5% |
| Oracle (ORCL) | Dec 14, 2026 | Sep 10, 2026 | −7.0% | 12.5% |
| Company | Nvidia (NVDA) | Broadcom (AVGO) | Oracle (ORCL) |
|---|---|---|---|
| Next report | Nov 18, 2026 | Dec 9, 2026 | Dec 14, 2026 |
| Last report | Aug 26, 2026 | Sep 2, 2026 | Sep 10, 2026 |
| Move after last report | +7.0% | −3.4% | −7.0% |
| Average move | 2.6% | 9.5% | 12.5% |
Illustrative: a holding that is 5% of a portfolio and moves 2.6%, Nvidia’s average, moves the whole portfolio by about 0.13%. When several large holdings report in the same week, those moves add up; the earnings season guide covers how to plan for that.
Alphabet reported third‑quarter 2026 results after the close on Oct 28, 2026, and its Class A shares (GOOGL) fell 12.64% on Oct 29, 2026, close to close, while the S&P 500 ETF (SPY) fell 0.38%. In that release, EPS was $2.12 against a Wall Street consensus of $3.02, revenue rose 25% to $127.6 billion, and quarterly purchases of property and equipment rose to $51.36B from $23.95B a year earlier (+114%). The data show the reaction, not its cause.
It happens often: across 9 Big Tech stocks the share price fell after 53% of EPS beats in their last 8 reports. The data measure the reaction, not its cause; possible explanations include a beat that was already expected, weaker guidance, higher spending plans or slower growth in the key business segment.
Not reliably: 62 of 72 recent reports from 9 Big Tech companies beat the EPS estimate, and the stock still fell after 53% of those beats, reports available as of Oct 20, 2026.
Scheduled next reports: Nvidia Nov 18, 2026, Broadcom Dec 9, 2026, Oracle Dec 14, 2026. Dates can change; companies confirm them shortly before the report.
Oracle, at 12.5% per report on average, up or down, over its last 8 reports. Nvidia moved least, at 2.6%.
No, less on average: 9 Big Tech stocks moved 6.9% per report, up or down, against 9.8% for a typical technology stock in our earnings study. The study uses each company’s last 12 reports. One possible reason for the gap: larger companies are covered by more analysts, so single reports may surprise less.
Gems lists the stocks where several top‑ranked analysts agree, with each analyst’s record measured from the call date.
Educational content, not investment advice. Examples are illustrative; past performance does not guarantee future results.