It would shock you how bearish Wall Street is on hyperscalers Microsoft, Amazon, Alphabet, Meta, and Oracle

Brian Sozzi · Executive Editor Mon, November 2, 2026 at 2:52 AM PST 2 min read

Costco (COST) and Walmart (WMT) are trading at fatter price-to-earnings (P/E) ratios than every single major high-growth hyperscaler: Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOG), Meta (META), and Oracle (ORCL).

Looking to get a sense of how bearish Wall Street has quickly gotten on the AI trade? This data point is it!

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Hyperscalers with an average revenue growth of 21% are trading at an average forward P/E ratio of 20.7, according to a new analysis from S&P Global Market Intelligence (chart below).…