Of the four hyperscalers that reported this week, here's what to buy

After a marquee week for Big Technology earnings, Wall Street is left wondering which hyperscaler stock offers the best path forward. The four U.S. hyperscalers — Alphabet , Amazon , Meta Platforms and Microsoft — all reported earnings this week, giving investors a clearer read on how their massive bets on artificial intelligence are reshaping balance sheets and market sentiment. While each talked up their AI strategy, analysts focused on the scale of the investments and how these plans will start translating to tangible returns. "Strong AI spending has been the biggest drivers of AI performance so far, and the positive CapEx outlook should continue to underpin the AI-led rally over the next 6–12 months," UBS said. The market reaction to these hyperscalers' reports varied widely this week,