Meta earns almost all of its revenue from ads in its free apps, such as Facebook, Instagram and WhatsApp, and it earns more as each ad leads to more purchases for advertisers. Watch whether Meta's cash from operations covers its spending on data centers and servers.
Arm earns a fee when a company licenses Arm's chip designs, then a royalty on each chip that company ships using those designs. Watch whether Arm's royalty revenue keeps growing while fewer phones are sold.
Ibiden earns most of its operating income from substrates, the small boards that connect a chip to the rest of a server, and buyers want those for AI chips faster than the industry can make them. Watch whether its electronics operating margin holds near 29% as rivals add capacity.
Apple earns most of its revenue from iPhones and other devices, and much of its gross profit from Services, such as App Store fees and subscriptions, sold to the owners of those devices. Watch the products gross margin as memory chip prices rise, and Services revenue growth.
Intel earns its profit by selling chips for data centers and PCs, and loses much of that profit in Intel Foundry, the business that runs Intel's factories. Watch Intel Foundry's revenue from outside customers against its operating loss.
Tesla earns most of its gross profit by selling cars and is spending a growing share of that profit on research into self-driving cars, Optimus robots and the AI chips that run both. Watch the automotive gross margin alongside deliveries, and compare R&D spending with gross profit.
Amazon earns most of its operating income from AWS, which rents computing to other companies, while its store keeps a thin share of each sale. Watch AWS sales growth against the contracts customers have signed, capital spending against cash from operations, and North America's operating margin.
Alphabet earns most on search ads, and its fastest-growing profit comes from renting out computing that it must build first. Watch paid clicks and cost per click in Search, and Google Cloud's operating margin as depreciation rises.
SK hynix earns on the gap between the price of memory and its cost per bit, a gap that widens when buyers want more memory than the makers can supply. Watch DRAM average selling price against DRAM bit shipments.
Visa earns a small fee on each payment its network carries between a shopper's bank and a shop's bank, and a growing share of its revenue from services it sells to banks and merchants. Watch whether cross-border volume grows faster than payments volume.
Spotify earns on the share of each subscription it keeps after paying record labels, music publishers and other rights holders. Watch the gross margin, and whether price increases raise what each subscriber pays.
On October 20, 2026, Netflix reported third-quarter revenue of $12.9 billion, up 11.8% from a year earlier and in line with its forecast. Content amortization was $4.2 billion, up 5.8%.