Meta Sinks After Boosting Spending Outlook for 2026
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Meta was the biggest loser after a slew of major tech companies reported results. The Facebook parent sank in postmarket trading after raising its spending outlook for the year, extending a streak of plowing money into AI systems. As for the rest: Microsoft’s growth in its cloud-computing business failed to ease investor concerns, while Alphabet posted revenue and profit that beat forecasts, and Amazon’s quarterly sales topped estimates.