This week the spotlight is firmly on Microsoft and Alphabet as they deliver key quarterly results amid mounting expectations on AI-driven growth. Microsoft will report after the market close on October 29, with investors watching its Azure cloud expansion, Copilot product roll-out, and significant capex in AI infrastructure. For Alphabet, the focal point is whether AI-infused search and ad innovations are translating into improved ad yields and margin growth. Markets are keen on how these tech giants balance heavy investment with sustainable profitability given the backdrop of elevated valuations and investor scrutiny.