Strap in. The busiest week of the earnings season is upon us. Roughly 160 S & P 500 companies are slated to post their quarterly figures, including Microsoft and Advanced Micro Devices .
Apple is also on deck. Those reports come as major tech stocks face pressure from a rotation out of the winning mega-cap trade in favor of beaten-down small-cap names. The first reports from stocks within the former cohort weren't well received, either.
Tesla and Google parent Alphabet fell sharply last week on disappointing releases, dragging the broader market lower. The overall season, however, has been solid. About 41% of S & P 500 companies have reported earnings through Friday's close.
Of those names, 78% have beaten earnings expectations. Take a look at CNBC Pro's breakdown of what's expected from this week's key reports. All times are Eastern.
Tuesday Advanced Micro Devices is set to report earnings after the bell. A call with management is slated for 5 p.m.
Last quarter: AMD said it will sell $4 billion in artificial intelligence chips this year. This quarter: Analysts polled by LSEG expect the chipmaker's earnings per share gained 17% from the year-earlier period. What CNBC is watching: Investors will look for signs of progress on the chipmaker's position in the AI race.
In a note last week, Stifel analyst Ruben Roy said: "We continue to believe that AMD has established itself as a strong Number Two supplier of GPU-based AI compute and we expect continued progress as the company exp.