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Alphabet (GOOGL) and Intel (INTC) will approach second-quarter earnings from opposite sides of the artificial-intelligence boom.Alphabet is one of the biggest infrastructure buyers in the industry. Intel is trying to prove it can be a bigger supplier to that build-out.Their reports together could help decide whether the AI trade’s recent slide is a buying opportunity or the start of a wider valuation reset.The market’s expectations are unusually high. S&P 500 earnings are expected to rise 26% during the second quarter, while the Philadelphia Semiconductor Index remains up more than 60% in 2026 despite falling over 20% from its late-June record.Even strong results from major overseas chipmakers are producing muted stock reactions.That means the question has shifted. Investors are no longer asking if there is demand for AI. They’re asking if it can continue to beat forecasts that already assume exceptional growth.Alphabet must prove its AI spending produces returnsAlphabet reports results Wednesday, July 22, officially one of the most important days for the tech world.The Google parent enters the quarter with a lot of momentum. Revenue for the first quarter grew 22% to $109.9 billion, and Google Cloud revenue grew 63% to $20 billion. Revenue from search rose 19%, suggesting that the AI features haven’t hurt the advertising engine that is funding Alphabet’s growth.But the investment needed to sustain that growth is getting huge.Alphabet’s capital expenditures were $35.7 billion in the first quarter, more than double what it spent a year ago. It plans to spend $180 billion to $190 billion in 2026 as it builds out servers, networking equipment, and data centers.Related: Intel and Google deepen AI ties for chip designThat creates a difficult earnings test.A reduction in planned spending could hurt Nvidia, memory suppliers, data-center companies, and other businesses relying on hyperscaler demand. If the company continues to spend aggressively without commensurate cloud and advertising growth there could be concern on returns on capital.So, Alphabet needs to prove both sides of the AI equation: infrastructure investment growth and faster monetization.

Two earnings reports could decide the next phase of AI stocks and force decisions by Alphabet CEO Sundar Pichai.LUDOVIC MARIN / Getty Images

Intel must prove its rally reflects business improvementIntel reports Thursday, July 23, after its shares gained more than 160% in 2026.More Intel:Top-rated analyst sets a jaw-dropping Intel stock price targetJim Cramer surprises investors with his favorite stock pick5-star analyst resets Intel stock price targetThe company’s first-quarter results provided reasons for optimism. Revenue increased 7% to $13.6 billion, while Data Center and AI revenue rose 22% to $5.1 billion. Intel Foundry revenue advanced 16% to $5.4 billion.The economic outlook remains complicated.The company reported a GAAP net loss of $3.7 billion, including some items excluded from its adjusted results. Management expects second-quarter revenue of $13.8 billion to $14.8 billion and non-GAAP earnings of 20 cents per share.Intel has to show that its stock rally is driven by more than AI server excitement and domestic chipmaking.Investors will want to see proof that the stronger processor demand can help margins and that the foundry operation is moving toward sustainable external business rather than just generating more internal revenue.What AI investors should watchAlphabet’s capital spending forecast will be the most important demand signal to the market.Google Cloud growth, backlog, margins, and management commentary on available compute capacity are also things investors should consider. Capacity shortages continue to underpin demand for chips, while slower cloud growth may raise questions about the eventual return on investment in infrastructure.For Intel, data center and AI growth, foundry economics, and third-quarter guidance will matter more than a narrow earnings beat.The semiconductor index tanked in July, a sign that good numbers may no longer be enough. The chip companies are predicted to have 133% earnings growth in the second quarter and will be responsible for 44% of the S&P 500’s profit expansion.Key takeaways for investorsAlphabet reports Wednesday, followed by Intel on Thursday.Alphabet’s spending plans affect demand across the AI supply chain.Intel must justify a stock gain exceeding 160% this year.Cloud growth and foundry margins may matter more than headline earnings.Strong results could still disappoint if guidance does not exceed elevated expectations.Alphabet and Intel don’t have to prove the AI boom is real.The market has already factored in that conclusion.Alphabet needs to demonstrate that all those giant investments in infrastructure are yielding revenue and profit fast enough to justify more expansion. Intel must show that the boom is spreading beyond the top graphics-chip makers and that its core operations are improving.That’s why these earnings could be a two-stock move.They will test if the AI really still has room to expand or whether expectations have finally outstripped the companies themselves.Related: Alphabet stock rally exposes Google’s unusual AI problem

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealIt’s easier to head outside for a gardening project when tools are easier to grab, and it feels better to relax on the patio when your backyard is tidy. Smaller yards, balconies, and patios can all benefit from a spot to keep essentials organized, helping free up valuable space while also protecting your items. A compact storage solution can help reduce clutter without taking over the whole outdoor area, making it a practical addition for anyone with an outdoor space, and offering a functional setup that still leaves plenty of room to enjoy.While many outdoor storage options can be pricey, Walmart has an outdoor storage shed that’s large enough to store rakes, step ladders, tools, and more for under $100, saving shoppers 53%. The Patiowell Metal Outdoor Storage Shed offers a storage option for any outdoor area, keeping your items safe in the rain and sun while also providing an easy-to-access area that only takes up about nine square feet of storage space. Patiowell Metal Outdoor Storage Shed, $98 (was $209) at Walmart

Courtesy of Walmart

Shop at WalmartWhy do shoppers love it?Built from galvanized steel, this shed is made to handle changing outdoor conditions while resisting rust, corrosion, and general weathering from sun, wind, and rain. The construction helps protect stored items from rain and moisture, offering a safe place to store tools, patio accessories, and other expensive items, and the sloping steel roof helps direct rain and snow away from the sides of the structure, reducing water buildup over time. A sleek finish gives the shed a clean look that’s easy to fit into any outdoor space. Related: Walmart’s bestselling lockable 5-foot shed is on sale just $80The lockable doors offer peace of mind when your shed is out of sight, adding extra security and preventing them from blowing open during heavy storms, making it a great option for the garden, patio, or any outdoor area that needs some extra storage. The shed measures 5.2 feet tall, 35.3 inches wide, and 37.5 inches deep, and provides 46 cubic feet of storage space. This is enough space to fit outdoor couch cushions, folding chairs, watering cans, soil bags, gardening tools, leaf blowers, pool accessories, and even a small grill. The pros and cons of this dealProsMaterial: Rust and weather-resistant galvanized steel keeps your items out of the rain.A great size: This shed offers solid storage for smaller areas, where a larger shed wouldn’t normally work. Cons Colors: This shed is only offered in two colors.Assembly: Some reviewers state that assembly took a few hours.”It was a manageable size, and not too complicated to assemble by myself,” said one shopper. “It seems to be a good quality product.”Another buyer said, “It’s a nice size that we used for an outdoor refrigerator between our grill area and our pergola. It worked great with the weather, especially all the rain this summer.”Shop more dealsDevoko Metal Storage Shed, $104 (was $166) at WalmartAivituvin Outdoor Storage Shed, $144 (was $300) at WalmartImpact Outdoor Storage Tent, $102 (was $189) at WalmartThe Patiowell Metal Outdoor Storage Shed offers easy storage for both small and large outdoor areas. The versatile sizing fits many different types of tools and outdoor accessories while maintaining a smaller footprint. This shed is on sale for just $98, offering an $111 savings at Walmart.

July 30 is Tim Cook’s last earnings call as Apple’s CEO. He’s been running the company since 2011, and when he gets off that call, John Ternus takes over. That alone makes this quarter worth paying attention to, beyond the usual revenue-and-margins conversation.Bank of America published its preview note ahead of the July 30 report and kept its buy rating and $380 price target. The bank expects Apple (AAPL) to beat Wall Street’s numbers for the quarter. But the more interesting part of the note isn’t about June. It’s about what comes next.Bank of America reiterates buy on Apple stock ahead of Q3 earningsBank of America analyst Wamsi Mohan models fiscal third-quarter revenue of $109 billion and earnings per share of $1.89, both slightly above the Street consensus of $108 billion and $1.87, as TheStreet reported. That would put revenue growth at 16% year over year, near the top of Apple’s own guidance range of 14% to 17%.iPhone demand is driving most of it. The bank expects iPhone revenue to climb more than 20% year over year in the quarter. Services continues growing in the double digits. Gross margin is modeled at 48.2%, right in the middle of Apple’s guidance range of 47.5% to 48.5%.The June quarter looks fine. It’s the September quarter that Bank of America is already flagging as the one to watch.Apple gross margins face near-term pressure from component costsMemory chip prices are still elevated across the tech industry, and Apple isn’t immune. In the June quarter, the bank models product gross margins dropping roughly 190 basis points compared to the previous quarter. In the September quarter, that decline gets worse, another 280 basis points down, as higher component costs hit at the same time the company goes through its typical pre-launch slowdown before new iPhones ship.More Apple:Apple stock move vindicates Palantir CEO warning for AI industryApple’s iPhone cost problem reveals AI’s hidden billApple’s 2027 hardware refresh sends Wall Street a warningThe bank sees this as temporary. When the new iPhone lineup hits in the fall, including the foldable model coming at a higher price point, margins are expected to recover sharply in the December quarter. A potential $3 billion tariff recovery benefit could help, too. But the path through September is going to look ugly on paper, and Bank of America is calling it out directly so investors aren’t caught off guard.Services margins are a different story. The bank models Services gross margins at 76.5% for the June quarter and holding steady around 76% through the rest of the year. One thing worth watching: App Store growth slowed sharply, coming in at 3.2% year over year in Q3, down from 9.8% in Q2, according to SensorTower data cited in BofA’s note. The bank expects iCloud and licensing to offset that weakness. Over time, as Services becomes a larger share of Apple’s overall revenue mix, the bank sees potential for company-wide gross margins to eventually reach 50%.Apple’s staggered iPhone launch will shift seasonal revenue patternsThis is probably the most important operational change Bank of America is flagging. Apple is not releasing all its new iPhones at the same time this year.The Pro, Pro Max, and foldable models are coming in September as expected. But the standard iPhone and the new iPhone Air are being pushed to March 2027. That’s a meaningful departure from how Apple has historically launched its lineup, as TheStreet reported.Here’s why that matters for investors tracking the numbers. Historically, Apple’s December quarter has been its biggest because the whole iPhone lineup ships in the fall and drives a surge in holiday sales. If half the lineup doesn’t ship until March, some of that December quarter revenue moves into the March quarter instead. The September and December results could look weaker than investors are used to seeing, while early 2027 gets a boost it typically wouldn’t.Bank of America is already reflecting this in its estimates. It models fourth-quarter revenue of $106 billion versus the Street consensus of $114 billion. That’s an $8 billion gap, and the staggered iPhone launch is the main reason.

This is probably the most important operational change Bank of America is flaggingSheldon/Getty Images

Tim Cook’s final earnings call and the Apple CEO transitionThe July 30 call is historic in a quiet way. Tim Cook has been Apple’s CEO for 15 years. He took over from Steve Jobs in 2011 and oversaw its growth into the world’s most valuable company. On Sept. 1, he becomes executive chairman. John Ternus, who led Apple’s hardware engineering, takes over as CEO, according to CNN.Ternus was on the Q2 earnings call briefly, saying there was “an incredible roadmap ahead.” He’ll lead his first full earnings call in October. What Cook says on July 30 about the transition, the foldable iPhone launch timing, and Apple’s AI direction will be dissected closely because it’s the last time investors get to ask him those questions in that context, according to Fox Business.What Apple investors are watching on China, AI, and the Google dealThe June quarter result isn’t really the story this time. Bank of America’s note makes that clear. The questions investors are lining up are bigger than whether Apple beats by a few cents.China is one of them. Domestic competition from Huawei and other Chinese smartphone makers has been intensifying, and Apple’s market share there has faced real pressure. Any commentary from Cook on demand trends in China will move the stock.The Google search deal is another. Apple earns billions every year from Google for making it the default search engine on Safari. That arrangement is under regulatory scrutiny, and the rise of AI assistants is starting to shift how people search. If that revenue stream is at risk, it affects Apple’s Services growth story in a meaningful way.And then there’s AI. Apple has 2.5 billion active devices and a partnership with Google to integrate Gemini into Siri. The capabilities are improving. But investors still don’t have a clear answer on how Apple plans to actually make money from AI. Whether that drives upgrades, expands subscription revenue, or creates something entirely new is the question the company hasn’t fully addressed.Related: Top analyst resets Apple stock price target ahead of earnings

Imagine not having to shop anymore because your “agent” does it for you. That’s the pitch, at least. One of the 2026 buzzwords is agentic commerce, and if you’ve noticed a “Buy” button in a chatbot or heard your kids say they let AI handle their grocery reorders to save time, welcome to a new trend. Agentic commerce is real, growing quickly, and worth understanding before it appears in your digital shopping cart (or online account) with little fanfare or warning.The good news? Agentic commerce isn’t as strange or risky as it sounds once you understand what’s happening under the hood.Read:Best credit cards to obtain before retiringWhat is agentic commerce?For those of us like me (who loathe shopping and resent having to do it), this technology is akin to having your own competent, personal shopper who doesn’t tire or get distracted — and who can compare 50 options in the time it took you to read this sentence. That’s how the average AI shopping agent works.You tell it what you want — “find me a well-rated washing machine under $500” or “restock my typical weekly grocery order” — and it does the legwork. It will search, compare prices, check reviews, and in some cases, complete the purchase.The key word? Agent. This AI acts on your behalf, not unlike how travel agents book your flights and hotel stays without you having to make the calls yourself. You set the goal and the rules. The AI does the running around.If you think it sounds like some 25th-century sci-fi concept, it’s not. It’s already live. ChatGPT lets U.S. users buy directly from Etsy sellers without leaving the chat window. Also rolling out this year? The ability to shop at nearly unlimited Spotify stores, including brands like SKIMS and Vuori.Mastercard built Agent Pay, designed so AI agents to make verified purchases on your behalf. Visa has AI-ready cards built for agents. Perplexity has a Buy with Pro button connected to thousands of merchants through PayPal.The biggest names in payments and shopping have embraced this technology and trend, and are quickly building the infrastructure to support it. McKinsey researchers estimate AI agents could orchestrate up to $1 trillion in retail revenue by 2030. Where will you see agentic commerce?The short answer: many places. But these agents don’t always announce themselves as AI shopping.Inside a chatbotYou can ask ChatGPT or a similar tool for a product recommendation. In addition to links, a Buy button pops up in the conversation. You can confirm your shipping and payment information, and the purchase goes through without you having to visit the brand’s website.As a set-it-and-forget-it reorderWouldn’t it be lovely to never run out of paper towels or cat litter again? An agent can reorder it for you when it notices you’re running low (or because you’ve set a specific cadence, like Amazon and Chewy’s subscribe options). You don’t have to do a thing, unless you want to be asked first.Through a price-watching assistantYou can tell an agent to buy something if the price drops below a certain dollar amount. It watches, waits, and completes the transaction as soon as the deal appears — which beats having to remember to refresh a webpage every day for a week.On retailer websites you already useSome online stores are redesigning their product pages to be easier for AI agents (not just humans) to read. You likely won’t notice this part directly, but it’s reshaping what appears when an agent goes searching on your behalf.Is Agentic commerce safe?This question matters the most, and it’s the one companies are working hardest to answer.How do you set spending guardrails for an AI shopping agent?Three habits do most of the work here.Set guardrails immediatelyBefore an agent buys anything, you tell it the rules:A maximum priceSpecific brands to stick to or avoidWhether it should ask before buying or go aheadIndustry groups are very clear on this point. Humans stay in charge of the goals and limits. The AI executes within them.You don’t hand over your card numberYou don’t give an AI agent your credit card number. The system creates a token, which is a stand-in number that only works for that specific purchase, with that specific merchant, for that specific amount. If something goes wonky, your actual credit card numbers aren’t exposed.You confirm to finalize a purchaseOpenAI’s checkout system still requires you to tap to confirm the order, shipping address, and payment method before a charge goes through. You don’t hand your wallet to a robot and walk away (at least, not yet — and only if you choose a more hands-off approach).The pros and cons of agentic commerceThe upside:It saves time. Comparing five retailers for the best price on a new mattress used to mean multiple open tabs and lots of back-and-forth. Now, you can share your specific requirements with a generative AI platform like ChatGPT, and it will return options in seconds.It remembers things so you don’t have to. Agentic AI remembers your sizes, preferences and what you bought last time because a good agent keeps track, like shop clerks once did. If you run a busy household, your AI assistant can place those automatic monthly orders for you.It catches deals you might miss. Agents that watch prices for you, like airline and other big-ticket items, have their eyes open 24/7 (and are much more patient than humans refreshing a browser tab).The downside:There’s no consensus about what happens when something goes wrong. If an agent buys the wrong size or gets tricked into making a bad purchase, who’s responsible? You, the company that built the agent, or the store? Researchers studying this phenomenon said there’s no clear, universal answer yet.Trust is still catching up to the tech. A 2025 Visa survey found that nearly 8 in 10 people interested in AI shopping expressed concern about data privacy.It opens a new door for scammers. Wherever money moves automatically, fraud follows. Companies are building safeguards to reduce the likelihood that a cybercriminal will trick an agent with fake offers or misleading signals. But as with all tech, keeping ahead of scammers requires constant diligence.It can nudge you toward purchases you didn’t choose. If retailers pay agents to recommend their products, would you know?  Currently, the process works on the honor system, and not all companies are committed to telling their customers.Should you try agentic commerce?There’s no rush. But if you take advantage of Amazon’s Subscribe & Save or Chewy’s monthly autoship, you’re already using a version of it. If your current way of online shopping works for you, agentic commerce won’t replace it (and there are still plenty of folks — like me — who enjoy doing our own comparison shopping).If you’re curious, start small. You’re in control. Try it for something low-stakes, like restocking what you already buy each month. Keep the “ask me before you buy anything” setting on until you get a feel for how this technology works. In other words, treat it as you would a new assistant (or a toddler): give it a small task first. See how it does, and only hand over more control once you trust it to handle the smaller stuff.Before you try agentic commerce, check for these four things:A spending limit that you control. You should be able to set a maximum dollar amount.A confirmation step. You should be able to approve the order before you’re charged.A token option. The system should use a one-time token number and not your actual credit card number.An easy off switch. You should be able to toggle off auto-buying if you change your mind.The bots haven’t taken over your grocery list entirely — yet. But they’re getting really good at finding the best price on toilet paper, and for some people, that’s a great thing to hand off.This story written for TheStreet by Nifty 50+