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 rose 2.54% to $221.97 on Wednesday, October 21, as four large customers pointed to about $725 billion of 2026 capex.
  • Western Digital reported fiscal first-quarter revenue up 55% to $4.381 billion and guided next-quarter revenue to $5.1 billion.
  • Cadence guided third-quarter revenue 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 grew 82%. Nvidia (NASDAQ:NVDA) closed up 2.54% at $221.97 on October 21, Infosys (NYSE:INFY) reports on October 23 after its ADR closed up 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 Look For in the October 28 Report?

Microsoft reported fiscal fourth-quarter revenue of $90.0 billion, up 18%, on July 29, with Azure up 43% and about 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 rose 84% to $678 billion, and Microsoft 365 Copilot passed 30 million paid seats. Shares closed at $532.95 on October 21.

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

Alphabet rose about 6% on April 30 but fell 7% after the July report, when the 2026 capex ceiling rose to $205 billion and free cash flow turned negative for the first time. Total revenue was $119.8 billion against estimates of $116.9 billion, and debt rose 111% to $98 billion over the first half. The third-quarter report arrives in the same week as Microsoft's.

Nvidia: Why Are Its Biggest Customers Still Raising AI Spending Plans?

Nvidia outperformed the Nasdaq Composite's 1.05% gain on October 21 by about 1.5 percentage points. In April, Alphabet, Microsoft, Meta (NASDAQ:META) and Amazon (NASDAQ:AMZN) together pointed to about $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 first-quarter revenue forecast to $18.5 billion to $19.5 billion.

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

Infosys, an Indian IT services provider, announces second-quarter fiscal 2027 results on October 23. Its ADR closed at $13.22 on October 22, about 15% above the $11.49 level of around October 13 (calculated). First-quarter revenue was $5.08 billion, up 3%, with operating margin of 21.1% and large deal wins of $3.6 billion, and the company said the suspension of eight IT firms from the PERM program would have no material impact.

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

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

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

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

Verizon: What Is the Setup for the October 26 Report After Raised Guidance?

Verizon raised 2026 adjusted EPS 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 before 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 first-quarter revenue was $4.381 billion with non-GAAP EPS of $4.64 against $4.10 expected, non-GAAP gross margin reached 58.1%, and second-quarter EPS is guided to $5.80. On Monday, October 5, Western Digital rose 7% to $442.44 and Seagate (NASDAQ:STX) 5% to $891.76 after firms argued a supply scare was overdone, while SanDisk (NASDAQ:SNDK) fell 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) rose 2.21% and Zscaler (NASDAQ:ZS) 2.78% after critical PHP flaw alerts, while CrowdStrike (NASDAQ:CRWD) fell 0.58% and Fortinet (NASDAQ:FTNT) 0.61%. A widely held cybersecurity ETF closed down 0.31%. For the quarter ended July 31, Palo Alto Networks reported 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 second-quarter revenue guide is about 16.4% above its $4.381 billion first-quarter revenue, and Cadence's third-quarter midpoint of $1.610 billion is about 20.2% above the year-ago $1.339 billion, both calculated. RingCentral's free cash flow guidance midpoint rose $5 million to $625 million, or about 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.

What to Watch Next: 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, alongside Microsoft and Alphabet, with Amazon on Thursday, October 29. Investors will watch Azure growth near 45%, capex ranges, Cadence backlog against $8.1 billion and whether PHP patching demand shows up in cybersecurity orders.