Getting ready for a raging bull market? The truth behind the 14 consecutive gains in the US stock market—The market is betting on one thing!

The reason is simple—most of the core U.S. stocks (like the MAG7) will release their Q1 earnings reports in the next two weeks.

In other words:

Good earnings → Strengthened expectations → Elevated valuations → Rising stock prices

Poor earnings → Disappointed expectations → Valuation compression → Falling stock prices

Therefore, the “true answer” to this round of market movement isn’t macroeconomics or war, but—earnings reports.

So in the coming two weeks, the impact of war news will become weaker and weaker. Why hasn’t the war ended yet, and the U.S. stocks have already surged back, with 14 consecutive days of gains, each day rising by about 2%? I suspect that some people already knew the financial data of these companies in advance, so they were afraid of missing out, rushed to buy, and jumped the gun.

Why must we focus on the MAG7?

Because in the NASDAQ-100 Index: the MAG7 account for nearly 50% of the weight, meaning: these 7 companies basically determine half of the NASDAQ’s movement.

Let’s look at the fundamentals of each MAG7 company:

1. NVDA

Market cap: 4.9 trillion, P/E ratio: 41.15, Net income: 120 billion, Revenue: 215.9 billion. I can only say that as the largest company by market value, it still makes such huge profits, with a profit margin of 50%. What a monster. Moreover, NVDA’s revenue doubles every year, so although its P/E ratio is 41, it’s actually not high at all.

Unfortunately, NVIDIA’s financial data will only be released on May 21. The estimated Q1 revenue is 78.6 billion, up 25% from 43.3 billion in Q1 2024, almost doubling. Previous estimates and actuals haven’t differed much, and actuals have been higher than estimates.

Before researching NVDA, I thought NVIDIA’s market cap was 4 trillion and could only go up a little more. But after looking at NVIDIA’s data, you’ll find it’s not expensive at all…

2. MSFT

Market cap: 3.1 trillion, P/E ratio: 26.45, Revenue in 2025: 280 billion, Net income: 100 billion. From 2021 to 2025, revenue increases every year at a steady 10% growth rate.

The next earnings announcement is scheduled for April 30, 2026, with an estimated revenue of 81 billion, up from 68 billion, still in growth mode.

3. AAPL

Apple’s current market cap is 4 trillion, P/E ratio: 34, with 2025 revenue of 410 billion and net income of 120 billion. Its growth rate isn’t high but very steady.

The next report is due on May 1, 2026, with an estimated revenue of 109 billion, still increasing steadily. Based on the data, Apple remains very stable.

4. GOOGL

Market cap: 4 trillion, P/E ratio: 31, with 2025 revenue of 400 billion and net income of 132 billion. From 2021 to 2025, revenue grows annually by 10%-15%, very steady.

The next earnings report is scheduled for April 30, with an estimated Q1 revenue of 106.9 billion, also year-over-year growth.

5. AMZN

Amazon’s market cap: 2.6 trillion, P/E ratio: 35, with 2025 revenue of 716 billion and net income of 77 billion. Revenue has grown in the past three years at about 10% annually.

The next earnings report is due on April 30, with an estimated revenue of 177 billion, showing year-over-year growth.

6. Meta

Facebook’s current market cap: 1.7 trillion, P/E ratio: 29, with 2025 revenue of 200 billion and net income of 60 billion. Revenue growth over the past three years has been 10%-15%.

The next report is scheduled for April 30, with an estimated Q1 revenue of 55 billion, also growing in tandem.

7. TSLA

Tesla’s current market cap: 1.47 trillion, P/E ratio: 372, with revenue relatively stable over the past three years at around 940-49k, but net income has decreased from 15 billion in 2023 to 3 billion. It has the highest P/E ratio and the lowest profit margin among the seven giants.

The next earnings report is the day after tomorrow, with no obvious changes yet.

After reviewing the above data, the estimated Q1 revenues for the MAG7 generally surpass previous YoY figures, confirming one thing: the future AI + tech bull market will continue!

So if these companies release their financial data at the end of the month and meet expectations, the U.S. stock market will continue to rise. The previous fourteen-day rally was essentially a “recovery from the decline caused by risk sentiment,” and now it has just returned to a normal valuation track.

The real determinant of the market’s next direction isn’t war, but earnings.

If the MAG7’s earnings validate growth, the U.S. stocks are likely to remain strong, and the NASDAQ still has upward momentum!

For the crypto market: liquidity + risk appetite increase = the logic of following the trend holds. After the U.S. stocks rally, funds will also shift toward risk assets.