Combined share buybacks by Alphabet, Amazon, Microsoft, Meta and Oracle fell to 4.4 billion USD in the third quarter, the lowest since 2017 and about 90% below a peak of roughly 45.9 billion USD in late 2021, according to The Kobeissi Letter. Microsoft accounted for all of that total, while Alphabet and Meta have not bought back shares this year, compared with 66.5 billion USD repurchased by the two in the first nine months of last year, and Amazon has not repurchased stock since 2022. Alphabet's capital spending more than doubled to 51.36 billion USD in the third quarter, while its operating cash flow slipped to 42.29 billion USD, and Amazon spent 77.26 billion USD and expects about 220 billion USD in cash capital spending for 2026. To cover the gap, companies are borrowing and selling stock, with Alphabet's long-term debt nearly tripling to 125.10 billion USD since the end of 2025. Oracle said it would raise 20 billion USD in debt and equity.
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Related tickers and likely impact
AMZN
▼ Likely negativeAmazon
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.6T |
| Close on 11/04/2026 | 266.14 |
| Change that session | +6.16% |
GOOGL
▼ Likely negativeAlphabet Inc. (Class A)
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $3.5T |
| Close on 11/04/2026 | 288.99 |
| Change that session | +3.20% |
META
▼ Likely negativeMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.6T |
| Close on 11/04/2026 | 629.89 |
| Change that session | +1.43% |
MSFT
• NeutralMicrosoft
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 11/04/2026 | 556.03 |
| Change that session | +6.73% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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