KUALA LUMPUR, Jan 23 (Bernama) -- Bursa Malaysia’s benchmark index recouped earlier losses to settle higher, maintaining a more than six-year high, buoyed by continued buying interest in technology stocks, while the strengthening of the ringgit against the US dollar further lifted investor sentiment. At 2.27 pm today, the local currency strengthened to 3.9992 versus the greenback, its strongest level in more than seven years. It was last seen at this level on June 18, 2018, at 3.9960/9990. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.85 points or 0.17 per cent to 1,719.99 from yesterday’s close of 1,717.14. The index surpassed its previous peak of 1,719.00 recorded on Feb 26, 2019. The barometer index opened 1.30 points lower at 1,715.84 and moved between an intraday low of 1,711.89 in early trade and a high of 1,723.41 in late afternoon before slipping slightly toward the close. However, market breadth was negative with decl...
After a shaky start to the year and a geopolitics-driven risk-off move, the Magnificent Seven head into earnings season facing a rare reality check. Big-cap tech has lagged smaller caps, positioning is lighter, and investors are no longer buying growth on faith. This earnings stretch is less about nostalgia for last year’s winners — and more about who can still grow fast enough to earn a premium.
Why Mag 7 Suddenly Looks Fragile
Early-2026 trading has flipped the script. What was once seen as “quality growth” has, at times, become “sell first, reassess later.” With expectations clearer and sentiment more cautious, guidance tone and forward visibility may matter as much as reported numbers.
Earnings timeline (after market close):
Jan 28: Tesla, Microsoft, Meta Platforms
Jan 29: Apple
Feb 4: Alphabet
Feb 25: NVIDIA
Amazon: date pending
What the Market Is Pricing In
Tesla — demand and margins under pressure
Consensus points to revenue decline and sharply lower EPS. This quarter is about stabilising the demand narrative, pricing discipline, and whether energy or software can cushion auto margins.
Microsoft — Azure momentum vs AI capex
The market expects solid growth, but the focus is whether Azure re-acceleration is sustainable and how quickly AI demand converts into revenue without crushing margins.
Meta — revenue strength, capex scrutiny
Top-line growth is assumed. The debate is around margin durability, Reels monetisation, and whether AI infrastructure spend stays credible.
Apple — is the cycle turning?
Apple doesn’t need fireworks. Investors want steady iPhone demand, resilience in Services, China trends, and disciplined capital returns.
Alphabet — AI everywhere, but at what cost?
The test is whether Search remains durable while AI features monetise efficiently. Capex and depreciation trajectories matter more than ever.
Amazon — AWS sets the ceiling
Retail efficiency provides the floor, but AWS growth and AI workloads will decide upside. Advertising remains an underappreciated margin lever.
NVIDIA — the market’s AI mood ring
With explosive growth baked in, the bar is not “strong” — it’s how strong, and for how long. Guidance, data-centre demand, and supply visibility will ripple across the entire AI trade.
Summary
This Mag 7 earnings season is not about beating last year’s numbers. It’s about answering a colder question:
Which of these stocks can still grow fast enough — and profitably enough — to be treated like a category, not just another stock?
Investors are watching margins, cash flow and guidance far more closely than headline beats.
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