Microsoft Could Swing $189 Billion in Value After Earnings – Meta Platforms (NASDAQ:META), Microsoft (NAS
Earnings are set to hit the tape on Wednesday, after the closing bell, and options traders are already laying down markers on how violent the post-print reaction could be, according to Benzinga Pro.
This is a Benzinga-selected watchlist spanning consumer, software, semiconductors and cybersecurity. The marquee name on the list is Microsoft Corp — but the biggest implied move is saved for the end as the countdown runs from the calmest setup to the most volatile.
5. Starbucks Corp | Mkt Cap: $119B | Implied Move: 5.76%
Benzinga Pro data show the options market is implying a 5.76% move, the smallest swing in this five-stock lineup — but with a $119 billion market cap, that still leaves $6.86 billion of market value at stake around the report.
Shares have rallied in 2026, up 23.4% year-to-date and trading 10.7% above the 200-day moving average. The shares sit about 34% above the 52-week low of $77.99.
4. Microsoft Corp | Mkt Cap: $2.9T | Implied Move: 6.48%
Options are pricing in a 6.48% move, according to Benzinga Pro — a mid-pack implied swing on this list, but one that matters given Microsoft’s size. With a market cap of $2.92 trillion, Benzinga Pro pegs $189 billion of market value at stake.
Microsoft’s stock carries a Buy consensus rating, and the share price sits well below the 180-day average analyst price forecast; in July, UBS reiterated its Buy rating and cut its price forecast, while Guggenheim reiterated its Buy rating.
The stock has pulled back in 2026, down 17.7% year-to-date and trading 9.7% below the 200-day moving average. The shares sit about 29% below the 52-week high of $555.45.
3. Meta Platforms, Inc. | Mkt Cap: $1.5T | Implied Move: 7.08%
Benzinga Pro shows options traders are implying a 7.08% move. On a $1.51 trillion market cap, that translates to $107 billion of market value at stake — a reminder that even “single-digit” implied moves can be enormous in dollar terms for mega-caps.
The stock has pulled back in 2026, down 8.7% year-to-date and trading 6.5% below the 200-day moving average. The shares sit about 25% below the 52-week high of $796.25.
2. Lam Research Corp | Mkt Cap: $350B | Implied Move: 10.50%
According to Benzinga Pro, the options market is implying a 10.50% move — one of the larger swings in this Benzinga-selected set. With Lam Research valued at $350 billion, Benzinga Pro’s implied stake comes to $36.8 billion of market value in play.
Shares have rallied in 2026, up 57.6% year-to-date and trading 17.5% above the 200-day moving average. The shares sit about 36% below the 52-week high of $438.50.
1. Fortinet, Inc. | Mkt Cap: $112B | Implied Move: 11.69%
Benzinga Pro data show options are pricing in an 11.69% move — the widest implied swing in this five-name watchlist. On a $112 billion market cap, that’s $13.1 billion of market value at stake around earnings.
Shares have rallied in 2026, up 95.7% year-to-date, trading 53.7% above the 200-day moving average since the 50-day moving average crossed above the 200-day in May. The shares sit about 117% above the 52-week low of $70.12.
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