# What to Watch Today (2026-08-04): Tech Earnings Momentum Faces China Headwinds
Earnings euphoria battles geopolitical concerns as markets digest a split tech landscape heading into Tuesday's session.
Bullish Momentum Plays
Microsoft (MSFT) continues its historic run at $487.65, targeting $510 after yesterday's monster 25% earnings surge. While RSI shows overbought conditions, the momentum remains unstoppable with cloud revenue beating all expectations.
Amazon (AMZN) holds strong at $284.02 with a $295 target, riding a 23% weekly surge. AWS growth acceleration is driving institutional buying despite elevated RSI levels.
CrowdStrike (CRWD) at $202.54 eyes $215 as cybersecurity spending accelerates. The 12.4% recent surge reflects growing enterprise security budgets amid rising digital threats.
Bearish Pressure Points
Apple (AAPL) faces continued selling at $303.42 with downside to $290. China sales disappointment triggered a 10% weekly decline, and RSI at oversold 40 suggests more pain ahead as trade tensions escalate.
Qualcomm (QCOM) struggles at $151.57 targeting $145 after plunging 10.9% on memory pricing concerns. RSI at 33 indicates technical damage with semiconductor headwinds intensifying.
Top Trade: Microsoft Long
MSFT represents today's highest-conviction bullish setup. The historic 25% earnings beat on cloud acceleration creates a rare momentum play despite overbought technicals. Target $510 with stops below $475. The AI infrastructure spend cycle is just beginning, making any dips buyable for swing traders.
Today's Catalysts
Light economic calendar with focus on semiconductor earnings after the close. Watch for any China trade headlines that could impact Apple's trajectory and broader tech sentiment.