Consumer Tech (July 27-31): AI Boom Drives Tech Earnings As Apple, Amazon Lead Markets & More

by | Aug 2, 2026 | General

Senators from across the aisle have reportedly sent a letter to Apple Inc. (NASDAQ:AAPL) CEO Tim Cook, urging the company to refrain from using memory chips from ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies Corp (YMTC) in its devices, even if the products are meant solely for the Chinese market.

The Commerce Department has signed letters of intent to provide $874 million in CHIPS and Science Act incentives to seven companies advancing semiconductor technologies for AI and high-performance computing.

The Donald Trump administration introduced changes to Department of Transportation (DOT) regulations aimed at expediting the development and deployment of autonomous vehicles, granting Amazon.com Inc.‘s (NASDAQ:AMZN) Robotaxi operator Zoox a temporary exemption to deploy its driverless vehicles commercially.

President Donald Trump said his administration is considering expanding federal authority over AI tools following recent cybersecurity incidents.

Former White House communications director Anthony Scaramucci reignited the debate over congressional stock trading, arguing that lawmakers benefit from access to insider information and calling for sweeping ethics reforms modeled after Singapore.

The Federal Communications Commission’s latest restrictions target emerging Chinese technologies that U.S. officials say could threaten America’s AI infrastructure, critical supply chains and cybersecurity.

Smartphones, Entertainment & Broadline Retail

  • Apple Inc. (NASDAQ:AAPL) reported third-quarter earnings per share of $2.02, beating the Street consensus estimate of $1.89 by 13 cents, according to data from Benzinga Pro.
  • Apple‘s blowout June-quarter earnings were packed with headlines about record iPhone sales and Apple Intelligence. But one of the most revealing comments came during the Q&A, when CEO Tim Cook described soaring memory prices as a “100-year flood” and suggested the DRAM industry needs more suppliers.
  • Apple revealed a wave of K-12 districts abandoning Chromebooks and Windows machines in favor of the company’s new MacBook Neo, with Chief Financial Officer Kevan Parekh naming specific schools driving the shift.
  • Apple is facing rising memory chip costs that could pressure its business beyond the September quarter, with outgoing CEO Tim Cook saying the company is exploring ways to manage the impact without revealing whether higher costs could eventually affect product pricing.
  • Amazon.com, Inc. (NASDAQ:AMZN) reported second-quarter revenue of $200.61 billion, exceeding Wall Street’s consensus estimate of $196.46 billion. The company posted earnings of $5.75 per share, well above analysts’ expectations of $1.82 per share.
  • Amazon CEO Andy Jassy announced the e-commerce giant is raising its 2026 capital spending target from $200 billion to $220 billion, due to soaring memory chip prices. He said the company is already seeing “striking” demand for 2028 as it continues expanding AI infrastructure to keep pace with customer demand.
  • Roblox Corporation (NYSE:RBLX)  posted its second-quarter results after Thursday’s closing bell, beating EPS estimates with revenue in-line. 
  • Reddit, Inc. (NYSE:RDDT) reported quarterly earnings of $1.25 per share, which beat the consensus estimate of 95 cents by 31.58%, according to Benzinga Pro data. Revenue came in at $804.91 million, which beat the Street estimate of $730.26 million and was up from $499.6 million in the same period last year.
  • Samsung Electronics Co. Ltd.‘s (OTC:SSNLF) posted a record second-quarter operating profit as surging artificial intelligence memory demand boosted its semiconductor business, though higher component costs weighed on earnings in its mobile division.
  • SoFi Technologies, Inc‘s (NASDAQ:SOFI) second-quarter earnings were packed with record numbers, from revenue and loan originations to member growth. But the most important metric may have been one that received far less attention.
  • United Microelectronics Corp. (NYSE:UMC) reported second-quarter 2026 results that beat Wall Street expectations and raised its full-year capital spending outlook.
  • Seagate Technology Holdings Plc (NASDAQ:STX) reported its fourth-quarter results after Tuesday’s closing bell, beating analyst estimates on the top and bottom lines.
  • Cadence Design Systems, Inc. (NASDAQ:CDNS) reported stronger-than-expected second-quarter results, raised its full-year guidance and ended the quarter with a record backlog.

Software & Semiconductor

  • Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) is reportedly developing an advanced packaging technology, which could erode Intel Corp.‘s (NASDAQ:INTEL) competitive advantage.
  • AXT Inc. (NASDAQ:AXTI) posted its second-quarter results after Thursday’s closing bell, beating analyst estimates on the top and bottom lines.
  • Microsoft Corp. (NASDAQ:MSFT) beat analyst estimates in the fourth quarter for both revenue and earnings per share. He told investors that its calendar-2026 capital expenditure forecast had dropped to roughly $175 billion, down from the approximately $190 billion projected in April. 
  • Microsoft CEO Satya Nadella said Copilot is rapidly evolving from a chat assistant into autonomous AI agents with more than double the seat additions quarter-over-quarter.
  • Meta Platforms Inc. (NASDAQ:META) reported mixed second-quarter results. Revenue of $60.8 billion beat estimates, but a $2.4 billion legal charge and $1.18 billion in severance costs dragged earnings per share to $6.18, well below Street expectations near $7.19.
  • Meta said WhatsApp reached a new milestone during the FIFA World Cup Final, handling a record 30 million messages per second — the highest messaging rate in the platform’s history.
  • Meta CEO Mark Zuckerberg said the company will continue building its own frontier AI models rather than relying on third-party open-source alternatives, saying today’s open-source models lag behind the industry’s most advanced systems and that depending on other companies’ technology carries strategic risks. He said personal AI agents could eventually help billions of people manage everything from their careers and finances to their health and relationships, calling the opportunity “almost inevitable.”
  • Oracle Corp (NYSE:ORCL) announced an expanded artificial intelligence partnership with Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) Google Cloud.
  • Qualcomm Inc. (NASDAQ:QCOM) reported fiscal third-quarter revenue that topped Wall Street estimates but issued fourth-quarter adjusted earnings guidance below expectations.
  • Intel Corp. (NASDAQ:INTC) has reportedly granted a stealth chip startup access to parts of its Atom processor technology, marking a rare move involving intellectual property the company has historically kept under tight control.
  • NXP Semiconductors N.V. (NASDAQ:NXPI) reported quarterly earnings of $3.61 per share, which beat the analyst consensus estimate of $3.51 by 2.85%, according to Benzinga Pro data.


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Automotive, Aerospace & Defence

Bitcoin & Artificial Intelligence (AI)

  • Anthropic said its Claude AI models accessed the systems of three outside companies during cybersecurity evaluations after a configuration error gave the models unintended access to the live internet.
  • OpenAI is cutting prices on some of its artificial intelligence models as businesses grow increasingly cautious about rising AI expenses and competition intensifies across the industry.
  • Tempus AI (NASDAQ:TEM) revenue was $382.5 million in the second quarter, up 22% year-over-year. The revenue total beat a Street consensus estimate of $379.7 million, according to data from Benzinga Pro.
  • Strategy Inc (NASDAQ:MSTR) reported quarterly revenue of $122.39 million, which just missed the consensus estimate of $122.91 million, according to Benzinga Pro data. Strategy currently holds 843,775 Bitcoin (CRYPTO:BTC), making it the largest institutional holder in the world.
  • Robinhood Markets Inc. (NASDAQ:HOOD) CEO Vlad Tenev said more than 100,000 users have signed up for the company’s AI-powered Agentic trading accounts, though he acknowledged that current AI models still create friction when it comes to executing trades.
  • As Chinese start-up Moonshot AI’s Kimi K3 model gains attention for offering powerful AI capabilities, OpenAI CEO Sam Altman says the ChatGPT parent plans to stay ahead by delivering the strongest mix of intelligence, speed and affordability.
  • SK Hynix Inc. (NASDAQ:SKHY) said artificial intelligence (AI) customers are now making financial deposits alongside long-term supply agreements, giving the company greater visibility into future demand as AI infrastructure spending continues to surge.