The Main Points
- Apple and Meta were the two decliners among the six megacap tech companies that reported results this earnings season.
- Apple shares tumbled on Friday even as the company reported results, following a week where AI spending scrutiny weighed on sentiment.
- Meta's stock had already dropped sharply earlier in the week after investors questioned whether its AI investment strategy was paying off.
- The divergence highlights how selective investors have become — simply beating estimates isn't enough if spending plans raise doubts about near-term returns.
- Both stocks remain closely watched heading into the next quarter as investors look for evidence the AI spending cycle is paying off.