Equities week ahead: Amazon, Alphabet, Shell
Alphabet Q4 earnings
Alphabet will release Q4 earnings on February 4th, which come as the stock has rallied 68%, driven by the launch of Gemini 3 AI, growing demand for TPU chips, and robust demand for Google Cloud amid the ongoing demand boom.
Expectations are for EPS of $2.64, reflecting 23% year-on-year growth, whilst revenue is expected to rise 15.4% to $111.29 billion.
The company reached a $4 trillion market cap in mid-January after Google and Apple announced a multiyear collaboration, with Apple Foundation models based on Google's Gemini models and cloud technology.
In Q3, Alphabet reported quarterly revenue that topped $100 billion for the first time and beat expectations
Google Cloud is facing stiff competition in the arms race against the likes of Microsoft Azure. Amid the market's concerns about AI spending, focus will be on Alphabet's capital expenditure, cloud metrics, and guidance on AI investment and demand. The company warned in Q3 that it expected capex to range from $90 billion to $91 billion for the year.
How to trade GOOGL earnings?
Alphabet trades in a clear uptrend, reaching a record high of 340. Buyers will look to extend gains towards 350. On the downside, support is seen at 304, the mid-January low. A break below here creates a lower low towards 297.
Amazon Q4 earnings preview
Amazon will report Q4 earnings on Thursday, February 5, after the market close.
Expectations are for EPS of $1.97, up 5.7% year on year, on revenue of $211.3 billion.
Capital expenditure will be a key area to watch, particularly since Microsoft spooked the market last week. Amazon raised its 2025 CapEx guidance to $125 billion in October, with management stating that this will increase further in 2026. Estimates suggest CapEx could exceed $150 billion, primarily directed to the AI infrastructure build-out at Amazon Web Services.
In the previous quarter, Amazon posted mixed results with revenue rising 13% $180.2 billion ahead of forecasts; however, operating income was unchanged at $17.4 billion amid a $4.3 billion special charge for the Federal Trade Commission settlement and $1.8 billion in severance costs relating to 14,000 corporate redundancies announced in October.
Amazon has announced it will cut an additional 16,000 jobs worldwide in its second major wave of layoffs.
Amazon Web Services' cloud business generated $33.01 billion in revenue, just above the $32.4 billion forecast. This quarter, AWS is expected to report $34.9 billion in revenue, with sector growth remaining in focus. Markets were expecting around 21% growth, which would mark a third consecutive quarter of accelerating growth.
How to trade AMZN earnings?
Amazon trades above its rising trendline dating back to April, reaching a record high of 258 in early November. However, since then, the price has formed lower highs, trading in a symmetrical triangle. This price is also at the midpoint of the symmetrical triangle. This setup lends itself to a breakout trade.
Buyers will look to rise above the falling trendline resistance at 246, with a rise above 249, the 2026 high confirming the breakout and creating a higher high.
On the downside, sellers will look to break below 230, the 50 SMA and the rising trendline support. A break below here brings 226, the January 20 low, into focus. A break below here exposes the 200 SMA at 222.
Shell Q4 earnings
Shell will release fourth-quarter earnings this week, and investors are bracing for a more than 20% decline in annual earnings, as oil prices fell by the largest amount since 2020 at the height of the pandemic.
The results on Thursday will highlight the impact of the steeper decline in crude prices, which fell sharply on oversupply concerns. Brent dropped below $60.00 a barrel last month for the first time in almost five years.
Expectations are for the Shell to post full-year underlying earnings of $18.79 billion, down 21% from $23.72 billion in 2024.
The preferred current cost of supplies basis for earnings is predicted to fall 14% to $56.71 billion.
In a recent trading update, Shell reported weak performance from its trading business in the last quarter amid a drop in crude oil prices and noted a loss in its chemicals and products division.
Despite these and geopolitical pressures, Shell's share price remained relatively resilient, supported by Brent's recent rise above $70 a barrel.
How to trade Shell results?
After reaching a record high of 2,909 in November, the price fell before finding support at 2,554. The price rebounded higher, rising above the 50 SMA and the falling trendline resistance, reaching 2818.
Buyers, supported by the RSI, will look to rise above 2818 to extend the bullish breakout towards 2909 and fresh record highs.
Immediate support is at 2740, the trendline support and the 50 SMA. A break below here exposes the 200 SMA at 2635, ahead of 2555, the 2026 low.
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