Expectations were high ahead of the reports from the largest companies in the world, and investors got a mixed bag. Facebook had blowout numbers, Google parent Alphabet beat expectations but saw shares fall, while Amazon had a big miss on earnings, which saw its stock fall slightly.
For Alphabet, it seemed investors were concerned about the rising costs. For Amazon, investors appeared to be worried about the big earnings miss.
But I'd argue investors weren't concerned at all actually.
Amazon shares fell 3 percent after hours. It was a similar move with Google even though the company beat on earnings per share and revenue. This move is really just investors taking stock, pausing for breath, and seeing a chance to take some profit. It's understandable when you look at the runs the stocks have had. Amazon is up 39 percent year-to-date, while Alphabet is around 20 percent higher. And it's not really surprising given the tech-heavy Nasdaq hit another record high last week.