Alpine Capital

All four reported after the close on Apr 29 — all beat on revenue and EPS, with AI/cloud the clear theme. Microsoft (MSFT) — FY26 Q3 Revenue $82.9B (+18%), operating income $38.4B (+20%) ; EPS $4.27 vs. $4.06 expected . Microsoft Cloud $54.5B (+29%) ; Azure +40% . Capex guided to $190B for the year (up 61%) on higher memory costs; Q4 revenue guide $86.7–87.8B . Alphabet (GOOGL) — Q1 Revenue $109.9B (+22%), EPS $5.11 (+82% YoY) . Google Cloud $20.03B (+63%) with operating income jumping to $6.6B from $2.2B; cloud backlog nearly doubled QoQ to $460B+ . Search +19% to $60.4B; YouTube ads $9.9B (+11%, slight miss) . Net income included a $36.9B equity-securities gain ($2.35/share) . Meta (META) — Q1 Revenue $56.31B (+33%, fastest growth since 2021) vs. $55.45B est.; EPS $10.44 vs. $6.79 est.  — but EPS was lifted by an $8.03B tax benefit; ex-benefit EPS was $7.31 . DAP 3.56B (+4%, slight miss); Q2 guide $58–61B . Capex range raised to $125–145B (from $115–135B)  — the call’s main pressure point. Amazon (AMZN) — Q1 Revenue $181.5B (+17%) vs. $177.3B est.; EPS $2.78 vs. $1.64 est.  AWS $37.6B (+28% — fastest growth in 15 quarters), operating income $14.2B at 37.7% margin . AWS backlog $364B, excluding the recently announced $100B+ Anthropic deal . Shares slid 3%+ after-hours despite the beat. 

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Charlie Munger's partnership returns:

$MU Micron Q4 FY25 (August quarter). • Revenue +46% Y/Y to $11.3B ($0.2B beat). • Non-GAAP EPS $3.03 ($0.17 beat). Q1 FY26 guidance: • Revenue ~$12.5 ($0.7B beat). • Non-GAAP EPS ~$3.75 ($0.71 beat).