Bloomberg Intelligence analyst Mandeep Singh says Microsoft, Amazon and Alphabet will beat consensus estimates as their cloud businesses accelerate over the next three or four quarters, supported by a combined backlog of about $2 trillion across Amazon, Microsoft, Alphabet and Oracle. The latest reported backlogs total about $2.35 trillion: Microsoft $678 billion, Oracle $664 billion, Google Cloud $514 billion and AWS $496 billion. AWS revenue rose 37% to $42.2 billion in the second quarter, Google Cloud revenue rose 82% to $24.8 billion, and Amazon CEO Andy Jassy said 2027 is largely sold out. Power and chips are the main constraints: Alphabet expects to spend $195 billion to $205 billion this year, more than double its $91.5 billion in 2025, and some Amazon AI servers are reportedly waiting on power. The article also notes that OpenAI made up about 45% of Microsoft's backlog in December 2025, and Meta's stock fell after it signaled much higher AI spending next year.
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Related tickers and likely impact
AMZN
▲ Likely positiveAmazon
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.7T |
| Close on 10/23/2026 | 248.04 |
| Change that session | -0.93% |
GOOGL
▲ Likely positiveAlphabet Inc. (Class A)
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/23/2026 | 320.25 |
| Change that session | -1.22% |
MSFT
▲ Likely positiveMicrosoft
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/23/2026 | 524.53 |
| Change that session | +0.66% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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