Meta and Tesla Report on October 21: Will AI Spending Returns Support Risk Appetite?

Meta and Tesla report third-quarter results after the US market close on Wednesday, October 21. Both come as AI doubts are already weighing on tech stocks, so the reaction could set the tone for risk assets, including crypto, later this week.

Meta is the bigger test for AI sentiment. It expects 2026 capital expenditures of $130 billion to $145 billion, and analysts expect about $63.3 billion in quarterly revenue, up roughly 24%, with earnings per share near $6.67, per FactSet. Options traders price a move of about 6% in either direction. In the second quarter, free cash flow fell to about $784 million, and an earlier post-earnings selloff followed similar spending concerns.

Tesla is expected to report earnings per share of $0.45 on revenue of about $27.9 billion, according to FactSet. It has confirmed 486,500 vehicle deliveries and 13.7 GWh of energy storage deployed in the quarter, while margins and capital spending remain unknown until the report.

With SpaceX reporting a day earlier, the three reports fall within about 24 hours, which can compress volatility into a short window. For crypto, the logic is conditional. Reassuring AI spending guidance could help risk appetite recover, while another round of spending worries could add to recent pressure on equities and, by extension, Bitcoin.

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Sources:

• Coinpaper: Meta Faces $145B AI Spending Test Ahead of October 21 Earnings
• Tech-Insider: Tesla, SpaceX, Meta Earnings Loom