[Amazon, Alphabet, and Tesla all swung to negative cash flow](https://www.cnbc.com/2026/07/31/tech-earnings-cash-memory-ai.html) in Q2 while Meta's cash generation collapsed 91%. This isn't "responsible capex discipline" — it's a working capital crisis masking accrual manipulation. When companies burn cash but report earnings beats, reconcile the gap: receivables stretched, inventory piling up, or payables deferred. The memory cost squeeze compounds it.

Research these companies