This is the biggest week for S&P 500 earnings during the first quarter earnings season. A third of the index will report earnings, including five out of the seven Magnificent 7 companies.
But Wednesday, Apr 29, 2026, is the day everyone will be watching. Four of the Magnificent 7 companies are reporting after the bell: Alphabet, Microsoft, Amazon and Meta Platforms.
It’s rare to have them all report on the same day and at the same time (good luck covering analysts).
Wednesday Will Make Earnings History
Some are calling Wednesday the “craziest” day in earnings history.
But it’s not just the Mag 7 stocks who will be reporting on that day that makes it so “crazy”. Other popular companies will also be reporting after the bell including Carvana, Chipotle Mexican Grill and eBay.
The other companies will likely be lost in the shuffle, but you should tune in after you’ve checked out the Magnificent 4 results.
The Magnificent 4 stocks have good earnings surprise track records. Will they beat again and drive the S&P 500 higher still?
5 Stocks to Watch on Wednesday After the Close
1. Alphabet Inc. (GOOGL) has beat 12 quarters in a row. That’s an impressive track record. Shares of Alphabet are breaking out to another new all-time high going into the report. Earnings are expected to rise just 6.8% this year, however. Alphabet’s forward price-to-earnings (P/E) has risen, as a result, and now stands at 29.9x. Will Alphabet beat again?
2. Microsoft Corp. (MSFT) is an earnings all-star. It has only missed one time in the last 5 years, and it was in 2022. That’s impressive. Shares of Microsoft have sold off in 2026 though. Microsoft is down 12.1% year-to-date. It’s gotten more attractive on a P/E basis though. Microsoft now trades with a forward P/E of 24.8. That’s a multi-year low. Is this a buying opportunity in Microsoft?
3. Amazon.com, Inc. (AMZN) is coming off a rare miss last quarter, after it had beat 12 quarters in a row. Shares of Amazon are hitting new all-time highs going into this report and are up 13.1% year-to-date. The analysts are bullish too. The most accurate estimate for the quarter is calling for $1.67, or $0.06 higher than the Zacks Consensus Estimate of $1.61. Will Amazon resume its earnings beats this quarter?
4. Meta Platforms, Inc. (META) has a great earnings surprise track record. It has beat 13 quarters in a row. Shares of Meta Platforms are up only 2.8% year-to-date as investors worry about AI spending. Earnings are expected to rise 27% in 2026 but it’s forward P/E is also attractive. Meta Platforms has a forward P/E of just 22.6 which is the lowest among the Mag 7. Can Meta Platforms quiet the spending fears?
