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Microsoft (MSFT) reports after the bell with capital expenditure guidance as the session's real focus.
Investors want to know whether the company follows Alphabet and raises its spending plans, a question the tape cannot answer until the post-bell call.
The Alphabet benchmark Alphabet moved first, raising its capital spending plans. That decision ran through the mega-cap technology group and reset what investors expect from peers at the report.
Capital expenditure commitments have become the clearest signal of conviction in AI infrastructure build-out. A raise reads as confirmation that demand warrants the outlay. A hold or cut carries a different message.
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