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Amazon and Alphabet crushed earnings. What will be the next breakout tech company?

Key Points
  • Amazon, Alphabet, Microsoft and Intel results topped expectations on Thursday
  • The Nasdaq composite surged 2.2 percent to a record close following the reports
  • Facebook, Apple and Alibaba are due to report this week
Timothy A. Clary | AFP | Getty Images

Amazon, Alphabet, Microsoft and Intel topped earnings expectations when the companies reported their quarterly results after the market close on Thursday.

Shares of the tech giants popped on Friday following the earnings beats: Intel closed up 7.38 percent, Amazon soared 13.22 percent, Alphabet jumped 4.26 percent and Microsoft rose 6.4 percent on the day. That led the tech-heavy Nasdaq composite to a record close of 6,701.26 on Friday.

Ahead, Facebook is expected to release its results on Nov. 1. Apple and Alibaba are due to report a day later.

As of Oct. 27, 74 percent of the 231 companies in the S&P 500 index that have announced results have beat expectations, according to Thomson Reuters I/B/E/S.