Results this week:
- Cloud companies all reported results – what does capex look like?
- Meta cuts capex projections but is still spending at historically elevated rates due to AI
- Google’s revenue stops growing, but the company is guiding hardware capex up
- Amazon AWS revenue is in a downtrend with decreasing visibility and no capex guide, but no indication of capex cuts
- Corning is seeing a pocket of weakness in the red-hot fiber cabling boom
- Juniper is shipping against a massive backlog and thinks demand is good
- MACOM is seeing broad weakness in 5G and CATV and emerging weaknesses in the datacenter market
And the quarter to date:
- Microsoft had poor financial results but committed to keeping capex rolling
- Nokia puts up good optical and IP numbers
- Intel data center results are terrible, and it is exiting the Tofino (Barefoot) Ethernet switch business
- Calix sees strong bookings and no double ordering
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