Microsoft Steals Market Share from AlphabetIt was an interesting day on the US earnings scene yesterday. Despite both Alphabet and Microsoft posting better-than-forecast Q3 results, Alphabet shares plummeted more than 7% on news that Microsoft had stolen market share in the cloud-computing sector. With clients’ AI demand increasing, Microsoft’s Azure cloud services have seen strong growth over the prior quarter, contributing 3% to the overall 28% growth in cloud computing. However, Alphabet refrained from specifying what percentage of its cloud growth came from AI services, another factor which weighed on investor sentiment through the day.Meta Results DueTurning focus to today, the big name on deck in Meta. The company (formerly known as Facebook) is expected to post Q3 EPS of $3.643 on revenues of $33.58 billion. If confirmed, this will mark a solid uptick on the prior quarter’s results and should see Meta shares boosted through the end of the week. In particular, traders will be keen to hear the latest breakdown of the group’s spending, particularly on its metaverse activities. Last time around, Meta announced it was scaling back its focus on this area to concentrate more on AI, a move which was welcomed by investors. Given the increasing focus on AI, any positive results should drive firm buying of its stock.Technical ViewsMetaThe impressive rally in Meta stock this year has stalled for now into a test of the 326.65 level. The level is holding as firm resistance for now, creating risks of a possible double top. The key support area to note is the 298.96 level, with the bull trend line there also. Bears will need to see a break of this level to turn focus to the downside. While above here, focus is on a continuation higher and eventual break of 326.65.