Amazon.com Inc has emerged as the focal point for investors ahead of this week’s Magnificent Seven earnings season, according to a poll of Benzinga viewers. The e-commerce giant secured 33% of the votes in the survey, edging out Apple Inc (26%), Microsoft Corporation (23%), and Meta Platforms (18%). This outcome underscores heightened market scrutiny on Amazon’s Q2 financial results, which are scheduled for release Thursday after market close, alongside Apple’s Q3 report on the same day.

The poll, conducted during Tuesday’s episode of the "PreMarket Playbook" hosted by Ryan Faloona, gathered more than 200 responses. While Amazon leads in investor interest, the broader context of year-to-date (YTD) performance presents a mixed picture among the four tech giants. Amazon is one of only two Magnificent Seven stocks reporting this week that are currently up in 2026, with a modest gain of 2.2%. Microsoft Corporation, the other positive performer, ranked second in the poll with 26% of the vote but showed a YTD decline of 15.6% in the data provided, creating a divergence between investor sentiment and recent price action.

Earnings Schedule and Market Weighting

The timing of these reports carries significant weight for major market indexes. Meta Platforms and Microsoft will report their Q2 and Q4 earnings, respectively, on Wednesday after market close. Their combined influence on key exchange-traded funds (ETFs) suggests potential volatility for index-tracking assets.

In the Invesco QQQ Trust, these four stocks collectively account for 19.9% of assets. Apple remains the largest holding at 8.3%, followed by Microsoft at 4.8%. Amazon holds a 4.2% stake, ranking fifth, while Meta represents 2.9% as the 10th largest holding. In the SPDR Dow Jones Industrial Average ETF, Microsoft, Apple, and Amazon hold weights of 4.4%, 3.8%, and 2.7%, respectively.

Year-to-Date Performance Divergence

The poll results contrast with the actual YTD returns of the stocks. Apple Inc leads the group with a substantial 25.4% gain in 2026, yet it received fewer votes than Amazon. Conversely, Meta Platforms, which has declined 8.6% year-to-date, garnered the least attention from viewers. This discrepancy suggests that investors may be prioritizing Amazon’s potential to extend its positive momentum or address specific operational metrics over Apple’s established growth trajectory.

Microsoft’s position is particularly notable; despite being a top-five holding in all three major ETFs analyzed, its share price has lagged, dropping 15.6% year-to-date. However, some market observers argue that Microsoft and Meta may offer more upside potential following strong beat-and-raise cycles and positive capital expenditure commentary, even as they currently underperform the broader market.

What the Numbers Show

The data reveals a disconnect between index weighting and investor anticipation. Although Apple Inc carries the highest weight in both the SPDR S&P 500 ETF Trust (7.8%) and the Invesco QQQ Trust (8.3%), it did not top the poll for the most-watched earnings report. Instead, Amazon.com Inc, with lower index weights (3.6% in SPY, 4.2% in QQQ), captured the largest share of viewer interest. This indicates that retail or active traders polled by Benzinga are focusing on Amazon’s specific quarterly catalysts rather than the broader index impact driven by Apple’s dominance. Additionally, the fact that Amazon and Microsoft are the only two stocks up year-to-date, yet Microsoft trails in the poll, suggests that Amazon’s recent momentum or specific business segment updates are driving disproportionate attention relative to its current valuation trajectory.

Amazon.com Inc. filed an application with the Federal Communications Commission on Monday seeking approval to launch up to 5,105 low Earth orbit satellites for its Amazon Leo Direct-to-Device system. The e-commerce giant aims to deploy the constellation by 2028, a move that directly challenges Space Exploration Technologies Corp.’s Starlink service in the growing market for smartphone-based satellite connectivity. By targeting direct-to-device capabilities, Amazon intends to bypass traditional infrastructure limitations, offering seamless global coverage through standard mobile devices rather than specialized hardware.

The regulatory filing represents a strategic pivot following Amazon’s merger agreement with Globalstar in April this year. According to the company, Globalstar’s spectrum rights will enable the integration of direct-to-device features into its broader satellite network. Amazon currently operates more than 390 satellites in orbit, utilizing Leo Nano, Leo Pro, and Leo Ultra ground antennas to deliver initial services. The proposed expansion would significantly increase its orbital footprint, allowing for higher capacity and improved reliability for consumer and enterprise clients alike.

Competitive Landscape

The push into direct-to-device technology places Amazon in direct competition with Elon Musk-led Space Exploration Technologies Corp., which has aggressively expanded its Starlink Mobile offerings. While regulators have previously urged Amazon to focus on deployment milestones rather than opposing competitors’ plans, the company continues to broaden its partnerships. Notable collaborations include agreements with Apple Inc., enhancing the ecosystem for satellite-enabled devices. Meanwhile, Starlink has recently activated free satellite texting services for Movistar and MasOrange customers in wildfire-affected regions near Madrid, demonstrating operational resilience during network outages.

Pricing and Service Dynamics

Competition in the aviation sector also remains intense, with both companies vying for business travel contracts. Space Exploration Technologies Corp. recently increased prices for its Starlink aviation plans, reflecting strong demand or cost adjustments. The revised pricing structure includes three tiers: Starlink Regional 25 GB at $4,000 per month, Aviation Regional Unlimited at $12,500 per month, and Aviation Global Unlimited at $20,000 per month. These price hikes underscore the premium nature of high-bandwidth satellite connectivity in flight, a segment where Amazon’s Leo service aims to gain traction through integrated device solutions.

What the Numbers Show

The scale of Amazon’s proposed satellite constellation—5,105 units—highlights the capital-intensive nature of competing with established players like Starlink. While Starlink boasts speeds up to 10-Gigabit-per-second globally, Amazon’s strategy relies on leveraging Globalstar’s spectrum and existing orbital assets to achieve comparable coverage. The divergence in approach—Starlink focusing on high-speed broadband via dedicated terminals versus Amazon’s direct-to-device integration via smartphones—suggests a bifurcation in market segments. Investors should monitor FCC approval timelines and deployment progress in 2028 as key indicators of Amazon’s ability to capture market share in the satellite internet space.