Amazon.com Inc., Microsoft Corp. And Alphabet Inc. They had only one task before earnings season: show that the billions of dollars they each invested in the infrastructure powering the artificial intelligence boom were translating into real sales.
In Wall Street’s eyes, they’ve disappointed. Shares of Alphabet, which owns Google, have fallen 7.4% since reporting results last week. Microsoft’s stock has fallen in the three days since the company reported results. Shares of Amazon — the latest company to report a profit decline on Thursday — fell Friday to their biggest drop since October 2022.
