Amazon just grew AWS at its fastest pace in nearly five years and still fell 7% after hours. Same story at Alphabet. Google Cloud revenue doubled, and the stock lost $500 billion in a day. The market is pricing the capex spend. Microsoft spent less than it guided and kept its cash flow positive. Its stock held. The new Mag 7 scorecard: grow and burn cash, you get sold. Grow and keep it, you get held.
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