Alphabet Reports Q2 Earnings on July 23, AI Capex Plans Hold Key to KOSPI Direction

According to Yuanta Securities, Alphabet will release Q2 2026 earnings on July 23 morning (Korea time), with markets closely watching its artificial intelligence capital expenditure plans. As one of the largest "hyperscalers" (including Microsoft, Amazon, and Meta) investing heavily in AI development, Alphabet's guidance on future AI spending will signal demand strength in the sector.

If Alphabet increases AI investment plans, it could support semiconductor and AI-related stocks globally and in South Korea, analysts said. Conversely, flat or reduced capex guidance could be interpreted as weakening AI demand, potentially dampening investment sentiment in semiconductor and AI companies across markets, according to Shinhan Investment Securities.