Why Microsoft, Meta, and Amazon earnings could crush the S&P 500

The concentration of the S&P 500 index among a handful of mega-cap technology stocks has reached historic levels, with the 10 largest companies now representing 38% of the index. This concentration has raised concerns among market strategists about vulnerability to negative earnings surprises from key holdings, particularly regarding artificial intelligence capital expenditure trends.
Alphabet’s earnings report last week triggered a significant sell-off in its shares, which fell 9% ov