Recent earnings from Meta Platforms, Microsoft and Tesla highlight how the world’s largest technology companies are doubling down on artificial intelligence, even as they face differing pressures on margins, capital expenditure and investor expectations, according to eToro.

Meta delivered a strong earnings beat, with fourth-quarter revenue rising 24 per cent year on year and first-quarter guidance coming in well ahead of market expectations. The performance underscored resilient advertising demand and improving AI-driven monetisation. Daily active users across Meta’s Family of Apps increased 7 per cent to 3.58 billion, while ad pricing rose 6 per cent during the quarter.

Commenting on the results, Zavier Wong, market analyst at eToro, said Meta’s aggressive AI push is becoming increasingly evident, with 2026 capital expenditure guided at $115–135bn as the company builds out infrastructure and talent around its superintelligence labs. He added that for investors previously cautious following the Metaverse investment cycle, management’s expectation that operating income will grow again in 2026 suggests this phase of spending is being driven by tangible demand and supported by Meta’s core advertising engine.

Microsoft also reported a solid quarter, beating expectations on both revenue and operating income. Revenue rose 17 per cent to $81.3bn, while Azure growth of 38 per cent confirmed sustained enterprise demand for cloud and AI services. Microsoft Cloud revenue surpassed $50bn for the first time.

Despite the strong results, Microsoft shares slipped in after-hours trading as investors focused on record quarterly capital expenditure of $37.5bn, which exceeded forecasts.

Wong noted that capital expenditure remains the primary concern for investors, with questions around margin pressure and the pace at which large-scale AI investments translate into monetisation. He added that while Microsoft’s close relationship with OpenAI reinforces its leadership in enterprise AI, it also introduces concentration risk. For now, Microsoft appears to be investing to meet existing demand rather than speculating on future growth, suggesting investors may need to exercise patience.

Tesla’s performance was more mixed. Revenue declined 3 per cent year on year, marking the company’s first annual revenue contraction in 2025, driven by lower vehicle deliveries and reduced regulatory credit income. Adjusted earnings per share exceeded expectations, and gross margins recovered to just over 20 per cent, easing some concerns around pricing pressure and cost control in its core automotive business.

According to Wong, Tesla’s valuation is increasingly influenced by its long-term ambitions rather than near-term vehicle performance. The $2bn investment in xAI, alongside developments in robotaxi services, Optimus humanoid robotics and energy storage, reinforces Tesla’s positioning as an AI, robotics and autonomy platform. However, he cautioned that vehicle revenues are declining, free cash flow remains under pressure, and many of these future initiatives are capital intensive and uncertain, widening the gap between current fundamentals and long-term expectations.

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Apple is quietly laying the groundwork for one of its most consequential product cycles in years, with early leaks and reports around the iPhone 18 revealing notable design changes, significant camera upgrades, and a careful approach to pricing amid supply chain pressures.

At the same time, the company is accelerating its artificial intelligence roadmap with a major Siri overhaul and expanding its ecosystem through updated accessories such as the new AirTag, reinforcing Apple’s strategy of combining hardware, software, and services into a tightly integrated business model.

Taken together, these developments point to Apple’s broader objective for 2026: delivering visible innovation without disrupting its pricing structure, while deepening user engagement across its devices and platforms.

iPhone 18 design changes signal a shift on the front

The most obvious update to the iPhone 18 is expected on the front of the device. Apple has relied on a pill-shaped cutout for several years, but leaked renders and videos now suggest that this area could finally shrink. Reports indicate that Apple is testing Face ID components placed under the display, reducing the visible cutout to a single hole.

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In leaked visuals, the front camera appears positioned near the top-left corner instead of the centre, a layout that would mark a noticeable departure from the current iPhone design language, an India Today report conveyed.

While Apple is not expected to eliminate Dynamic Island altogether, leaks suggest the company plans to make it less prominent. Rather than dominating the top of the screen, Dynamic Island could sit closer to the front camera, making it less distracting during everyday use while still supporting live activities and familiar animations.

On the rear, Apple appears to be sticking with a more conservative approach. The iPhone 18 Pro models are likely to retain a triple-camera setup housed in a raised module. However, small visual refinements are expected, including changes to the texture of the back glass and how it pairs with the aluminium frame. Reports also suggest Apple is testing darker colour options such as deep purple, burgundy, and coffee-like brown for the Pro lineup, signaling a subtle refresh rather than a dramatic redesign.

Camera upgrades could be a key differentiator

While the exterior changes may be evolutionary, the camera system is expected to receive more substantial upgrades. Leaks suggest Apple is experimenting with a variable aperture system for the main camera. Unlike current iPhones, which rely heavily on software processing to manage light and background blur, a mechanical aperture would allow the lens to adjust light intake on its own.

Such a system could result in more natural-looking photos, particularly in low-light environments. However, reports indicate this feature may be limited to the iPhone 18 Pro Max rather than being available across both Pro models.

Another possible improvement involves a new three-layer stacked image sensor reportedly sourced from Samsung. This sensor is expected to deliver faster readout speeds, reduced noise, and improved dynamic range. Both the main and telephoto cameras are also said to feature larger apertures, which could enhance night photography and video recording performance.

Apple faces memory cost pressures ahead of iPhone 18 launch

Beyond design and features, Apple is navigating a challenging supply chain environment as it prepares for the iPhone 18 launch. According to Apple analyst Ming-Chi Kuo, DRAM shortages are expected to impact smartphone manufacturers in 2026, with Apple facing higher memory costs as a result.

Kuo notes that Apple negotiates memory prices with suppliers on a quarterly basis, meaning price increases are expected in the second quarter of 2026. Estimates suggest memory prices are already up between 10 and 25 per cent compared to last year, a Mac Rumors report said. Apple has already absorbed similar increases earlier, and the company is expected to address these cost pressures during its January 30 earnings call covering the first fiscal quarter of 2026.

Despite rising component costs, Kuo expects Apple to avoid raising prices “as much as possible.” At a minimum, the starting price of the iPhone 18 models is expected to remain flat. Apple has taken a similar approach in the past, keeping the base iPhone 17 price at $799 while increasing the price of the Pro model due to higher minimum storage requirements.

Other components, including LPDDR and NAND memory, are also facing shortages as chipmakers prioritise advanced memory for AI servers over smartphones. This has led to speculation that smartphone prices could rise across multiple brands, even as Apple works to shield consumers from the full impact.

Siri set for major AI overhaul as Apple plays catch-up

Hardware improvements are only one side of Apple’s 2026 strategy. On the software front, the company is preparing a major overhaul of Siri, turning the digital assistant into its first full-fledged AI chatbot, according to a Bloomberg News report cited by Reuters.

The revamped assistant, code-named Campos, will be deeply embedded into the iPhone, iPad, and Mac operating systems and will replace the current Siri interface. The move is seen as a critical step in Apple’s efforts to catch up with Big Tech rivals in the AI race after its initial “Apple Intelligence” rollout in 2024 received a lukewarm response.

Earlier this month, Apple struck a deal with Google to use its Gemini models to power Siri, marking a significant partnership between the two companies. Campos is expected to run a higher-end version of the custom Google model, comparable to Gemini 3, internally referred to as Apple Foundation Models version 11.

The chatbot will support both voice and typing-based interactions and is expected to roll out later this year as part of Apple’s upcoming operating systems. Separately, reports indicate Apple is also developing an AI-powered wearable pin equipped with cameras, microphones, a speaker, and wireless charging, with a potential release as early as 2027.

New AirTag expands Apple’s ecosystem play

Apple is also strengthening its accessories lineup, unveiling a new AirTag on January 26 with expanded connectivity range and improved findability.

Powered by Apple’s second-generation Ultra Wideband chip, the new AirTag offers Precision Finding from up to 50 per cent farther away and features a louder speaker, making it easier to locate misplaced items.

The accessory integrates deeply with Apple’s Find My network, which uses a crowdsourced network of Apple devices to help users locate lost belongings while maintaining privacy protections. For the first time, Precision Finding is available on Apple Watch Series 9 or later and Apple Watch Ultra 2 or later, extending the experience beyond the iPhone.

Apple has also expanded its Share Item Location feature, partnering with more than 50 airlines to help recover delayed or lost luggage. According to SITA, airlines using the feature have reduced baggage delays by 26 percent and unrecoverable luggage incidents by 90 percent.

The new AirTag maintains the same price as its predecessor at $29 for a single unit and $99 for a four-pack, aligning with Apple’s broader strategy of delivering incremental improvements without raising prices. The accessory also supports Apple’s environmental goals, featuring recycled materials and fiber-based packaging.

Khansaheb Group has reinforced its position as one of the UAE’s most influential construction and engineering groups with the acquisition of ANABEEB from EMSTEEL Building Materials. The move expands the group’s industrial footprint and strengthens its ability to deliver integrated, sustainable infrastructure solutions across the region.

With a legacy spanning more than 90 years, Khansaheb Group has evolved into a diversified, fourth-generation family enterprise operating across key segments of the built environment. Its portfolio includes Khansaheb Civil Engineering, the UAE’s longest-established contractor; Khansaheb Facilities Management, which delivers end-to-end FM services across multiple industries; and Khansaheb Industries, focused on innovative and sustainability-led HVAC solutions.

Beyond construction and engineering, the group has expanded into property management, bespoke luxury contracting, aviation safety and emergency procedures training, healthcare through its affiliation with Clemenceau Medical Centre, and sustainability initiatives via Khansaheb Sustainability, which develops environmentally focused solutions aligned with the UAE’s long-term climate goals.

The acquisition of ANABEEB adds a new industrial dimension to this ecosystem. ANABEEB is an infrastructure manufacturer specialising in end-to-end PVC and GRP industrial pipe solutions, supporting water, wastewater, irrigation and industrial networks. The company operates the largest CC-GRP pipe production facility in the region and manufactures CC-GRP pipes, PVC-U pipes and fittings, LD-PE pipes for drip irrigation systems, and multi-wall paper sacks for building materials.

ANABEEB’s manufacturing facility is designed for high performance and durability, featuring four production lines with a combined annual capacity of 33,000 metric tonnes. The integration of these capabilities enhances Khansaheb Group’s ability to offer fully integrated infrastructure solutions, combining manufacturing, construction, engineering and facilities management expertise under one platform.

Commenting on the acquisition, Abdulrahman Khansaheb, managing director of Khansaheb Group, said, “Guided by passion and purpose, Khansaheb Group has always focused on creating solutions and services that transform businesses and support the UAE’s ambitions for future-focused development. The introduction of ANABEEB strengthens our end-to-end infrastructure capabilities and reinforces our position as a regional leader in delivering advanced solutions.”

He added, “Building on the expertise within our group, including Khansaheb Civil Engineering and Khansaheb Facilities Management, the new subsidiary allows us to offer advanced piping and infrastructure solutions with the same quality, innovation, and reliability that our clients and partners have come to know and trust.”

Reflecting on the transaction, Eng. Saeed Ghumran Al Remeithi, group CEO of EMSTEEL, said: “This transaction reflects our strategic focus on optimising our portfolio and accelerating value creation by concentrating on our core industrial priorities. We are confident that ANABEEB will continue to grow and thrive under Khansaheb Group, supported by its strong capabilities and long-term vision for infrastructure excellence.”

The acquisition marks another milestone in Khansaheb Group’s long-term growth strategy, reinforcing its focus on scale, capability and sustainable value creation. As ANABEEB is integrated into the group, it is expected to play a central role in supporting major infrastructure projects and advancing sustainable development across the UAE and wider GCC.

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President Donald Trump said on Thursday the US was decertifying Bombardier Global Express business jets and threatened 50 per cent import tariffs on all aircraft made in Canada until the country’s regulator certified a number of planes produced by US rival Gulfstream.

“If, for any reason, this situation is not immediately corrected, I am going to charge Canada a 50 per cent Tariff on any and all aircraft sold into the United States of America,” Trump said of the Gulfstream certification process in a post on Truth Social.

His declaration came amid broader tensions between the neighboring countries after Canadian Prime Minister Mark Carney, citing US trade policy, last week urged nations to accept the end of the rules-based global order that Washington had once championed.

Trump also said he was “decertifying their Bombardier Global Expresses, and all Aircraft made in Canada” until the Gulfstream planes were certified.

That threat, if carried out, would have a drastic impact on US carriers like American Airlines and Delta Air Lines, which rely on Canadian-made airplanes for many of their regional services.

However, a White House official told Reuters that Trump was not suggesting decertifying Canadian-built planes currently in operation. US airline officials told Reuters that FAA officials had made similar statements.

Data provider Cirium said there were 150 Global Express aircraft in service registered in the US, operated by 115 operators and 5,425 total aircraft of various types made in Canada in service registered in the US including narrowbodies, regional jets and helicopters.

Montreal-based Bombardier said it had taken note of Trump’s post on social media and was in contact with the Canadian government. “We hope this is quickly resolved to avoid a significant impact to air traffic and the flying public,” it said.

Airline officials said if the US could decertify airplanes for economic reasons, it would give other countries a powerful weapon and could put the entire aviation system at risk.

“Mixing safety issues with politics and grievances is an incredibly bad idea,” said Richard Aboulafia, managing director of US aerospace management consulting firm AeroDynamic Advisory.

Delta declined to comment. American Airlines, General Dynamics-owned Gulfstream and Carney’s office did not immediately respond to requests for comment.

Path to decertification unclear

Bombardier operates multiple service centers in the United States and has a facility in Wichita, Kansas, where it is growing its defense business. The US is the world’s largest market for business aviation and the Canadian company has about 3,000 employees based there.

IAM, a union representing more than 600,000 workers in North America and thousands of workers in the air transportation and aerospace sector, said Trump’s threats “would cause serious disruption to the North American aerospace industry and put thousands of jobs at risk on both sides of the border.”

It was unclear what planes beyond Bombardier’s Global large-cabin jets would fall under Trump’s increased tariffs, including the Airbus AIR.PA A220 commercial jets made in Canada. Most A220 jets operated by U.S. carriers are produced at an Airbus production line in Mobile, Alabama.

Trump said Canada has refused to certify the Gulfstream 500, 600, 700, and 800 jets. In April, the Federal Aviation Administration and the European Union Aviation Safety Agency certified the Gulfstream G800 jet. Transport Canada, which is responsible for Canadian certification, did not respond immediately to a request for comment.

It was unclear how Trump would decertify the planes since that is the job of the Federal Aviation Administration, but he has made similar declarations in the past that were ultimately carried out, often with exemptions, by relevant agencies.

It does not appear the FAA has the legal authority to revoke certifications for planes based on economic reasons, as it can only do so for safety reasons under existing regulations. The FAA declined immediate comment.

Certification process

Under global aviation rules the country where an aircraft is designed, the US in Gulfstream’s case is responsible for primary certification known as a type certificate, vouching for the design’s safety.

The FAA in December certified Bombardier’s Global 8000 business jet, the world’s fastest civilian plane since the Concorde with a top speed of Mach 0.95, or about 729 mph (1,173 kph). It was initially certified by Transport Canada on November 5.

Other countries typically validate the decision of the primary regulator, allowing the plane into their airspace, but have the right to refuse or ask for more data. Following a Boeing 737 MAX crisis, European regulators delayed endorsement of some US certification decisions and pressed for further design changes, sparking tensions with the FAA.

Due to US tariffs on key Canadian imports, Carney is pushing to diversify trade away from the United States, which takes around 70% of all Canadian exports under terms of the US-Mexico-Canada free trade deal.

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Dubai Aerospace Enterprise (DAE) has reached an agreement with Royal Air Maroc for the lease of 13 new Boeing 737-8 aircraft, further supporting the airline’s fleet expansion strategy. The aircraft are scheduled for delivery in 2027.

The latest agreement builds on an earlier transaction between the two parties, under which DAE leased two Boeing 737-8 aircraft to Royal Air Maroc, delivered in 2025.

Commenting on the agreement, Firoz Tarapore, chief executive officer of DAE, said, “We would like to thank the team at Royal Air Maroc for choosing DAE to partner on this significant fleet expansion project. The Kingdom of Morocco is a fast-growing tourist and business hub in Africa, with expanding air connectivity led by Royal Air Maroc. We look forward to seeing these new Boeing 737-8 aircraft enter the fleet, and to continuing to support Royal Air Maroc on their future fleet requirements.”

Abdelhamid Addou, chairman and chief executive officer of Royal Air Maroc, added: “This agreement is fully aligned with Royal Air Maroc’s strategic ambition to become a leading global connector. The Boeing 737-8 Aircraft will strengthen our network development capabilities, enabling new route openings and increased frequencies with greater operational efficiency. It also enhances our flexibility to serve growing demand while delivering reliable connectivity between Africa, Europe, and beyond.”

DAE currently owns, manages, or is committed to own or manage approximately 750 aircraft, including 237 Boeing aircraft. The company continues to expand its portfolio to meet rising global demand for modern, fuel-efficient aircraft.

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