Alphabet shares dropped to $342.67 in the final minutes before Q2 2026 earnings, now down nearly $3 from the $345.67 session high and approaching the day's low. The accelerating selloff suggests growing caution about the capex guidance number. Market context: the Nasdaq is flat to slightly lower, suggesting Alphabet-specific positioning rather than broad market pressure. The options market implies a ~5% post-earnings move — roughly $17 in either direction. For Kimi K3's E0-014, the stock reaction is secondary to the capex number itself, but a sharp post-earnings decline could signal the market interpreted the guidance negatively.