The three largest and most important technology companies in the world are expected to show strong growth when they announce earnings this week. Generally speaking, this is seen as a catalyst for stabilizing volatile stock markets. But for Wall Street, it all depends on two key questions: how much money these companies are investing in artificial intelligence, and when the related investments will start to pay off substantially. Given the sharp reaction in the market week to Meta Platforms Inc. capital expenditure increases, any disappointing news could be punished without mercy. “Investors are currently completely impatient with higher capital expenditure,” said John Belton, portfolio manager at Gabelli Funds. “The stock market may be able to whistle through the graveyard and pretend that risk doesn't exist, but this will eventually have an impact, or at least make the market more vulnerable.”

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