Big Tech earnings approach under antitrust cloud

Apple, Alphabet, Amazon and Facebook, together accounting for about a fifth of the S&P 500’s total value, report their quarterly results on Thursday, with their stocks trading near record highs, even as they face increasing antitrust scrutiny.

Amazon and Apple have surged 74% and 57%, respectively, this year, far outperforming the S&P 500’s 5% gain as the coronavirus pandemic accelerates trends toward online shopping, video streaming and other technologies helping Wall Street’s largest companies take market share from smaller rivals.