Key Highlights

  • RingCentral traded 14.58% higher at $91.00 after hours on Thursday, October 22, after raising 2026 free cash flow guidance to $620 million to $630 million.
  • Nvidia climbed 2.54% to $221.97 on Wednesday, October 21, as four large customers indicated roughly $725 billion of 2026 capex.
  • Western Digital disclosed fiscal revenue for the first quarter up 55% to $4.381 billion and guided next-quarter revenue to $5.1 billion.
  • Cadence guided revenue for the third quarter to $1.595 billion to $1.625 billion, with backlog of $8.1 billion.
  • Infosys reports on October 23, and Verizon and Cadence report on Monday, October 26.

Which Technology and Software Stocks Are Moving or About to Report?

Microsoft (NASDAQ:MSFT) reports on Wednesday, October 28, after Azure growth of 43% in July, and Alphabet (NASDAQ:GOOGL) reports the same day after Google Cloud expanded 82%. Nvidia (NASDAQ:NVDA) closed with a gain of 2.54% at $221.97 on October 21, Infosys (NYSE:INFY) reports on October 23 after its ADR closed with a gain of 3.69%, and RingCentral (NYSE:RNG) traded 14.58% higher after hours on October 22. Cadence Design Systems (NASDAQ:CDNS) and Verizon (NYSE:VZ) both report on October 26. Western Digital (NASDAQ:WDC) guided revenue to $5.1 billion for storage, and cybersecurity shares were mixed on October 22.

Microsoft: What Will Investors Assess in the October 28 Report?

Microsoft disclosed fiscal revenue for the fourth quarter of $90.0 billion, up 18%, on July 29, with Azure up 43% and roughly 45% guided for the September quarter. Capex was $41 billion in the quarter, and the 2026 outlook was restated to $175 billion from $190 billion after an accounting change. Commercial remaining performance obligation climbed 84% to $678 billion, and Microsoft 365 Copilot passed 30 million paid seats. The shares ended the session at $532.95 on October 21.

Alphabet: Why Did Investors Sell After July Despite 82% Google Cloud Growth?

Alphabet climbed roughly 6% on April 30 but declined 7% after the July report, when the 2026 capex ceiling climbed to $205 billion and free cash flow moved below zero for the first time. Revenue in total was $119.8 billion relative to projections of $116.9 billion, and debt climbed 111% to $98 billion during the first six months. The third-quarter report arrives in the same week as Microsoft's.

Nvidia: Why Are Its Biggest Customers Still Raising AI Expenditure plans?

Nvidia outperformed the Nasdaq Composite's 1.05% gain on October 21 by roughly 1.5 percentage points. in April, Alphabet, Microsoft, Meta (NASDAQ:META) and Amazon (NASDAQ:AMZN) together indicated roughly $725 billion of 2026 capex, up 77% from $410 billion in 2025. Microsoft attributed $25 billion of its plan to higher memory and component costs. On October 21, Super Micro (NASDAQ:SMCI) raised its fiscal revenue for the first quarter forecast to $18.5 billion to $19.5 billion.

Infosys: Is the 1.5% to 3% Growth Range Still Intact Ahead of the October 23 Report?

Infosys, an Indian IT services provider, announces second-quarter fiscal 2027 results on October 23. Its ADR finished at $13.22 on October 22, roughly 15% above the $11.49 level of approximately October 13 (calculated). Revenue for the first quarter was $5.08 billion, up 3%, with margin from operations of 21.1% and large deal wins of $3.6 billion, and the business stated the suspension of eight IT firms from the PERM program would have no meaningful impact.

RingCentral: Why Did Shares Jump After Hours Whereas GAAP EPS Looked Inflated?

RingCentral finished at $79.42 on October 22, then was quoted at $91.00 after hours. Non-GAAP EPS of $1.33 beat the $1.27 estimate and sales grew 5.9% to $676 million. GAAP EPS of $6.50 comprised a $544.9 million tax benefit, and without it was $0.28. Full-year non-GAAP EPS guidance climbed to $5.07 to $5.12, and free cash flow climbed 21.0% to $157 million.

Cadence: What Does the $8.1 Billion Backlog Say Ahead of the October 26 Webcast?

Cadence develops electronic design automation software and semiconductor intellectual property. Revenue for the second quarter was $1.584 billion against $1.275 billion a year earlier, and revenue for the third quarter is guided to $1.595 billion to $1.625 billion with non-GAAP EPS of $2.01 to $2.07. Sales across the full year is guided to $6.26 billion to $6.34 billion. Recurring revenue was 78% of the second quarter, and non-GAAP margin from operations was 45.5%.

Verizon: What Is the Setup for the October 26 Report After Lifted its outlook?

Verizon raised 2026 adjusted earnings per share guidance to $4.99 to $5.04 and free cash flow growth to 9.0% to 10.0%. Second-quarter postpaid phone net additions were 184,000 with consumer churn of 0.84%. Broadband net additions were 348,000. The company reports ahead of the market opens on Monday, October 26.

Storage Stocks: What Do Western Digital's 55% Revenue Jump and Guidance Say About AI Data-Center Demand?

Western Digital's fiscal revenue for the first quarter was $4.381 billion with non-GAAP EPS of $4.64 against $4.10 anticipated, non-GAAP gross margin hit 58.1%, and second-quarter EPS is guided to $5.80. On Monday, October 5, Western Digital climbed 7% to $442.44 and Seagate (NASDAQ:STX) 5% to $891.76 after firms argued a supply scare was overdone, whereas SanDisk (NASDAQ:SNDK) declined 12.63% on July 16.

Cybersecurity Stocks: Did the Group Sell Off on AI Fears or Rally on a PHP Flaw?

On October 22, Palo Alto Networks (NASDAQ:PANW) climbed 2.21% and Zscaler (NASDAQ:ZS) 2.78% after critical PHP flaw alerts, whereas CrowdStrike (NASDAQ:CRWD) declined 0.58% and Fortinet (NASDAQ:FTNT) 0.61%. A widely held cybersecurity ETF finished lower by 0.31%. In that quarter ended July 31, Palo Alto Networks disclosed revenue of $3.41 billion, up 34.46%, and CrowdStrike $1.47 billion, up 25.83%. Fortinet reports on October 28.

Technology Compared: How Do Guidance and Growth Figures Stack Up?

Western Digital's $5.1 billion revenue for the second quarter guide is roughly 16.4% above its $4.381 billion revenue for the first quarter, and Cadence's third-quarter midpoint of $1.610 billion is roughly 20.2% above the year-ago $1.339 billion, both calculated. RingCentral's free cash flow guidance midpoint climbed $5 million to $625 million, or roughly 0.8% (calculated).

In cybersecurity, Palo Alto Networks' revenue growth of 34.46% exceeded Zscaler's 24.88% by 9.58 percentage points, and its 2.21% gain on October 22 sat 2.82 points above Fortinet's 0.61% decline, both calculated.

Which Upcoming Developments Matter for Infosys on October 23 and the Cadence, Verizon and Microsoft Reports?

Infosys reports on Friday, October 23, and Verizon and Cadence report on Monday, October 26. Fortinet reports on Wednesday, October 28, together with Microsoft and Alphabet, with Amazon on Thursday, October 29. Investors will monitor Azure growth near 45%, capex ranges, Cadence backlog against $8.1 billion and whether PHP patching demand shows up in cybersecurity orders.