Will Q2 earnings be magnificent for these four tech stocks?

Also, gambling stocks Caesars, MGM, and Rush Street Interactive report earnings this week.

This may be summer vacation week for many people, but in the financial world, it is shaping up to be a busy week. In fact, it could indeed be a consequential week for earnings and economic news.

On the economic front, the week is highlighted by the on Wednesday about interest rates. But there are also key reports on jobs, unemployment, inflation, and the GDP coming this week. That’s not to mention a U.S. trade deal with the EU and continuing talks with China. Any one of these issues could impact stock markets.

In addition, the second quarter earnings season is heating up as four of the Magnificent 7 stocks report earnings this week, including Microsoft (NASDAQ: MSFT) and Meta (NASDAQ: META) on Wednesday after the market closes; and Apple (NASDAQ: AAPL and Amazon (NASDAQ: AMAZON) on Thursday after the closing bell.

Slower growth expected for Apple

The second quarter was quite volatile for tech stocks but ended strong as the tech-heavy Nasdaq returned almost 18% in Q2, fueled by an easing of trade tensions and investors buying low after tech companies had big losses in the first four months.

Among the four stocks reporting this week, Microsoft jumped 30% alone in Q2 and is up 21% YTD, while Meta surged 26% in Q2 and is up 22% YTD.

However, Apple struggled, dropping 8% in Q2. Apple stock is down 14% YTD. Amazon was slightly better, as its stock rose 14% in Q2 and is up %$ YTD.

But both Apple and Amazon were seen by investors as being the most vulnerable to high tariffs, particularly on China, as they both import a significant amount of goods from there.

When these companies report this week, investors will be looking for the real impact of tariffs and how they could affect the companies going forward.

Expectations for Apple are muted, as analysts project earnings of $1.41 per share, up less than 1% year-over-year. Revenue is anticipated to climb 5.7% to $90.7 billion.

“Apple’s next report, for the third quarter of 2025, is expected to show slower growth,” said Eugenia Mykuliak, founder & executive director of B2PRIME Group, a global financial services provider for institutional and professional clients. “Apple hasn’t made as many exciting new AI improvements recently. So, everyone will be watching to see what Apple says about its future, especially about the new iPhone 17 coming this fall.”

Mykuliak also noted that Apple’s stock is less expensive than it was, so investors keep that in mind.

More bullish on Meta and Microsoft

For Amazon, Wall Street analysts expect solid earnings growth of 4.8% to $1.32 per share and revenue growth of 9.5% to $162 billion.

Analysts are more bullish on Meta, as the consensus earnings estimate is around $5.85 per share, up 13%, with revenue expected to climb 14% to $44.6 billion.

Same with Microsoft, as analysts are calling for earnings of $3.35 per share, a 14% year-over-year increase. They also expect revenue to increase 14% to $73.7 billion.

“Although the company had two rounds of layoffs to cut costs and spent more on new projects, which might lower profits a little because of increased expenses, Microsoft’s finances are plenty of cash and manageable debt,” Mykuliak said. “Its stock is near its highest value ever now with a projection to grow further.”

This week also features earnings reports from some leading gambling stocks, including MGM (NYSE: MGM), Caesars (NASDAQ: CZR), and Rush Street Interactive (NYSE: RSI).

Caesars posts earnings on Tuesday after the market closes. Analysts expect the company to post a net loss of 56 cents per share. MGM is expected to post earnings of 86 cents per share on Wednesday after the closing bell. Rush Street Interactive also reports Wednesday after the market closes, with analysts anticipating earnings of 4 cents per share.