Big tech firms are showing impressive growth, driven by automation and artificial intelligence, ahead of earnings reports set for later this month. Companies like Alphabet (GOOG), Amazon (AMZN), and Microsoft (MSFT) are utilizing AI to improve efficiencies, leading to increased profitability even as workforce numbers decrease.
As of the latest reports, the Nasdaq is anticipating significant earnings, with Alphabet achieving 14% sales growth despite flat headcount. Meanwhile, Microsoft has laid off 15,000 employees within a few months but continues to enhance its operations through AI-driven efficiencies. The broader employment landscape shows recent job gains at only 74,000 in the private sector, indicating a real impact from automation.
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