Wall Street posted a solid performance last week. The S&P 500 gained 1.1%, the Dow Jones Industrial Average added 1%, and the Nasdaq-100 Index edged up 0.5%. The week was marked by strong Big Tech earnings.

AI Spending Keeps Tech Momentum Intact

Strong earnings from Amazon AMZN and Microsoft MSFT reassured investors that AI investment remains robust. Amazon jumped 15% on July 31 on strong cloud growth, while Microsoft extended gains after upbeat Azure results. MSFT and AMZN are up about 21% and 12.4% over the past one month (as of July 31, 2026).

Together with Meta (down 9.2% past month) and Alphabet (down 0.4% past month), the hyperscalers now expect to spend $720-$745 billion on capital projects in 2026, easing concerns over an AI spending slowdown, per CNBC.

Apple Lags Despite Strong Sales

Not all Big Tech names participated in the rally last week. Apple fell about 8% last week as weaker Services and China revenue offset solid iPhone sales.

Top-Leveraged Single-Stock ETFs of Last Week

Against this backdrop, below we highlight the top-performing stocks and their related leveraged ETFs.

Leveraged Microsoft

Direxion Daily MSFT Bull 2X ETF MSFU – Up 38.9%

Microsoft Corp. (MSFT) shares jumped 19% last week. Microsoft's share price surged after the company reported better-than-expected fiscal fourth-quarter 2026 results. The company beat earnings-per-share (EPS) and revenue estimates, driven by strong Azure growth and AI demand(read: Bet on These ETFs as Microsoft's Shares Jump Post Q4 Earnings Beat).

Leveraged AXT

Tradr 2X Long AXTI Daily ETF AXTX – Up 35.4%

AXT Inc. (AXTI) shares have surged 24.7% last week on earnings strength. The sharp increase followed a blowout Q2 2026 earnings report on July 31, 2026, where the company swung to a profit, beat Wall Street estimates on strong AI data-center demand, and posted record indium phosphide revenues.

Leveraged UiPath

Tradr 2X Long PATH Daily ETF (PATX) – Up 32.6%

UiPath (PATH) shares advanced about 14.2% last week. The recent surge followed strong enterprise demand for AI-driven automation, ongoing share buybacks, and investor rotation into the stock following strong previous-quarter fundamentals.

Leveraged Amazon

GraniteShares 2x Long AMZN Daily ETF AMZZ – Up 31.0%

Amazon.com (AMZN) shares added about 15.3% last week. Amazon's AWS-fueled second-quarter earnings beat sent shares soaring 10% right after the earnings release. AWS revenues jumped 37%, marking its fastest growth since 2021,  as quoted on CNBC.

AWS’ artificial intelligence (AI) business and the unit’s chips each generated over $25 billion in annualized revenue, more than doubling from last year (per CNBC) (read: Amazon Stock Soars After AWS-Led Q2 Beat: ETFs in Focus). 

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This article originally published on Zacks Investment Research (zacks.com).

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