[Live With Selina Han] From Strong Earnings to Falling Stocks: Decoding Big Tech, AI CapEx & the Q2
The tech tape has been sending a confusing signal. Across six weeks, nearly every trading day carried a major earnings report, an AI CapEx update, or a macro catalyst — and yet strong results were repeatedly met with falling share prices. Alphabet, Microsoft, Amazon, Meta and Apple all delivered, all reaffirmed aggressive AI investment, and all saw post-earnings pullbacks. The signal underneath is the same one every investor now has to decode: the AI buildout is real and accelerating, but the market has stopped rewarding spending on its own and started asking a harder question — who can actually convert AI investment into sustainable earnings and cash flow? Understanding that shift, heading into Jackson Hole and a data-heavy Fed path, is no longer optional.
We're bringing in Selina Han, Founder of Han Insights and a former Cboe economist holding a Ph.D. in Applied Economics from UIUC, alongside Vyann from the Tiger Brokers Community, to unpack what happened this earnings season, why tech stocks pulled back despite strong fundamentals, and where the AI trade goes next.
📅 Date: 21 August 2026
⏰ Time: 11:30–13:00 SGT
🔗 Register: 2026 Q2 Earnings Review: Big Tech, AI CapEx & Why Tech Stocks Pulled Back
What Happened, and Why Strong Earnings Weren't Enough — Why nearly every session featured an earnings print, a CapEx headline, or a macro data point, and why shares still fell across the board. We'll separate fundamentals, AI investment, market positioning and investor sentiment to explain the gap between good numbers and poor stock reactions.
Five Companies, Five Different AI Playbooks — How the same AI wave is reshaping five different businesses: Alphabet using AI as both offense and defense across Search, Cloud and Gemini; Microsoft turning infrastructure into recurring enterprise revenue through Azure and Copilot; Amazon selling the picks and shovels via AWS; Meta converting AI into engagement and advertising at a rising CapEx cost; and Apple taking a capital-light, ecosystem-led path. Same technology, five very different games.
From CapEx to ROI — The Question That Now Moves Stocks — Why AI CapEx guidance of $85B to $145B-plus has flipped from a bullish signal to a scrutiny point. We'll walk the chain from spending to computing capacity to adoption to monetization to cash flow, and score which names have the clearest near-term return visibility and which carry elevated capital-allocation risk.
Market Structure, Leverage & the Macro Backdrop — The Situational Awareness case study — a "pure AI" fund up +439% in H1 before a ~67% July reversal driven by concentration and forced deleveraging, not a broken thesis — as a reminder that liquidity and leverage can dominate fundamentals in the short run. Plus the Fed, jobs and inflation setup heading into the Jackson Hole symposium, and what a soft-but-not-weak economy means for growth-stock valuations.
📅 Date: 21 August 2026
⏰ Time: 11:30–13:00 SGT
🔗 Register: 2026 Q2 Earnings Review: Big Tech, AI CapEx & Why Tech Stocks Pulled Back
🏠 Selina Han: Tothemoon: Selina_Han_Insights / Website: https://haninsights.com/
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