Next week, US stocks face a crucial earnings season, shifting from the "Big Seven" belief to "performance speaks for itself."

For most of the past three years, the so-called "Big Seven" (Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla) led the stock market rally. But this trend reversed at the end of 2025 as Wall Street began to question the hundreds of billions of dollars these companies had invested in developing artificial intelligence and when those investments would pay off. An index tracking the Big Seven hit a record high on October 29, and since then, five of the Big Seven companies have seen their share prices decline and lag behind the S&P 500. During this period, only Alphabet and Amazon, with gains approaching 20%, have maintained their upward momentum. Darrell Cronk, chief investment officer at Wells Fargo Wealth & Investment Management, said, "Tech stocks have become a 'performance-driven' story. If big tech companies continue to deliver strong results, I think money will flow back into the tech sector." Next week, Microsoft, Apple, Tesla, and Meta will release their earnings reports, providing insights into the health of industries ranging from cloud computing and electronics to software and digital advertising. (Jinshi)