Alphabet, Tesla and Intel Headline Pivotal Earnings Week for Wall Street

Corporate America’s biggest earnings week of the summer arrives with three trillion-dollar-plus companies set to report, and investors are bracing for volatility. Alphabet, Tesla and Intel — together representing well over $5 trillion in combined market value — will reveal second-quarter results within 48 hours of each other, offering a critical read on AI spending, EV demand, and the semiconductor recovery.

Alphabet (GOOGL) — Wednesday, July 22, After Market Close

Alphabet kicks things off Wednesday, July 22, after the closing bell, with the earnings call scheduled for 4:30 PM ET. According to Yahoo Finance consensus data, analysts expect revenue of roughly $101 billion, with Bank of America projecting an even more bullish $102.1 billion, driven by accelerating Google Cloud growth. The Zacks consensus estimate for earnings stands at approximately $2.10 per share.

The print comes weeks after Alphabet’s stock roughly doubled over the past year and approached a $5 trillion valuation, though a reported delay to its Gemini 3.5 Pro AI model has recently weighed on sentiment.

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Google Cloud surged 63% in Q1 to roughly $20 billion, and investors will be watching closely to see whether that momentum can be sustained. Analysts will scrutinise capital expenditure guidance as the company races to build out data centre capacity, with questions swirling over whether ballooning AI capex will drag on margins.

Tesla (TSLA) — Wednesday, July 22, After Market Close

Tesla reports the same afternoon at 5:30 PM ET. Wall Street’s consensus, per Yahoo Finance, calls for adjusted EPS of $0.54, with attention squarely on automotive gross margins after the company posted record Q2 deliveries of 480,126 vehicles — up 25% year-over-year and well ahead of estimates.

The delivery beat was largely fuelled by pricing incentives, and analysts remain split on whether it translates into durable profitability.

CEO Elon Musk has repeatedly signalled his intent to shift the business beyond cars and into robotics and AI, and Tesla is tripling its capital expenditures in that direction.

Speculation around a potential Tesla–SpaceX merger has also circled the stock in recent weeks, adding another layer of uncertainty heading into the print. TSLA shares are down roughly 7% year-to-date heading into the release.

Intel (INTC) — Thursday, July 23, After Market Close

Intel closes out the trio on Thursday, with the conference call set for 5:00 PM ET. Consensus estimates point to revenue of approximately $14.39 billion and adjusted EPS of around $0.06, according to Yahoo Finance data.

Intel shares have been one of the market’s most volatile mega-cap stories in 2026, surging more than 20% on a blowout Q1 report before falling sharply in recent weeks amid a broader semiconductor selloff. The stock has declined roughly 13% over the past week alone.

Investors will be watching for progress on Intel’s data centre and AI chip roadmap — including updates on its Terafab project and recently announced deals with Google — as well as any guidance on whether the margin recovery seen in Q1 can continue into the second half of the year.

With Alphabet and Tesla reporting on the same day (July 22), it makes for the marquee earnings event of the week. Intel’s Thursday report adds to an intense stretch for mega-cap tech and AI-adjacent names.

Combined, the three results will offer what may be the most comprehensive single-week data point yet on whether the AI spending cycle is generating real returns — or whether investors are running ahead of the fundamentals.