Up 5% today and a further 8% after hours. Combined with Google, Microsoft and Meta results, it seems like big tech is roaring back.

Stock market loves layoffs, in the short term at least. They may not like what happens in a year or two but who cares.

What was said on the earnings call that erased the stock gain from the earnings release?

- EPS $0.31 vs $0.22

- Revenue $127.4 billion vs $124.55 billion

- AWS Net sales: $21.35 billion vs estimated $21.03 billion