Technology doping into global markets
Microsoft and Alphabet’s revenues exceeded expectations with the support of artificial intelligence investments. With the support of balance sheets, the appetite for risky assets also increased.
Asian tech stocks, Microsoft Corp. and Alphabet Inc. rose after announcing strong balance sheets that surpassed expectations. MSCI Asia Pacific Index Samsung Electronics Co., Taiwan Semiconductor Manufacturing Co. and Tencent Holdings Ltd. It had its best week since November, with the help of the rise in the shares of technology giants such as.
Benchmark indices in Japan, South Korea, Taiwan and China all gained value. The drop in the Japanese yen after the BOJ decision also supported Japanese stocks.
US stock futures indexes also rose, supported by technology balance sheets. The US 10-year bond yield, which completed the day with a 6 basis point increase after the US data announced on Thursday, is flat at 4.69 percent this morning.
Bloomberg Dollar Index did not change much at 1,260.
Artificial intelligence support to Microsoft and Alphabet
Microsoft Corp. and Google owner Alphabet Inc. With its first quarter balance sheets, it gave investors the message that artificial intelligence and cloud computing investments are paying off.
The financial statements released by the two companies painted an optimistic picture compared to Wall Street forecasts, thanks in part to the rise in cloud revenues supported by the increase in the use of artificial intelligence services. Microsoft’s revenues increased by 17 percent to $61.9 billion in the three months ending March 31, while its profit per share was $2.94.
Google’s parent company also surpassed analysts’ average expectations of $66.1 billion in sales revenue of $67.6 billion, excluding partner payments, in the same period. After the closing, Alphabet shares rose up to 17 percent and Microsoft gained 6.3 percent.
Tech giants are in a fierce battle for dominance in the field of artificial intelligence, and Microsoft has joined forces with startup OpenAI to challenge Google’s two-decade-long dominance of internet searches. But results released Thursday showed there’s plenty of room for both companies to grow.