The world’s biggest tech companies are about to open up their books — and some are expected to serve up record-shattering numbers.

Why it matters: The pandemic made many Americans even more dependent on these companies. That put a massive gust of wind — to the tune of billions of dollars — into the sails of Big Tech.

• For now, forecasters see few signs of this fading.

Where it stands: Microsoft, reporting tomorrow, is estimated to have booked the highest revenue figure in its history, helped by its cloud and gaming businesses, per WSJ.

Also on tap this week:

• Revenue at Alphabet is expected to outpace the company's first quarter record, helped by voracious internet advertising demand.
• The signs of that hot ad market already showed up in Snap and Twitter's financial results — and Facebook is expected to reap the benefits too.
• Amazon could log over $100 billion in sales (yes, in a single quarter) for the third time ever. That never happened before the pandemic.
• Apple's sales are set to leap over what it posted this time last year.

The elephant in the room: Antitrust scrutiny has increased since the last time the companies released earnings, says Wedbush analyst Dan Ives.

• Big Tech foe Lina Khan was sworn in as head of the Federal Trade Commission, and longtime Google critic Jonathan Kanter is set to lead the antitrust division of the Department of Justice.
• Meanwhile, Congress is batting around a suite of antitrust bills.

But, but, but: None of these developments have made a dent in these companies' soaring stock prices.

• "This is an elongated battle between the Beltway and Big Tech that is not slowing down," says Ives.

Stat to go: The five names alone are a record 22.9% of the S&P 500.

The numbers are in: Tesla booked its most profitable quarter on record — $1.1 billion — a feat as the auto industry is strangled by shortages.

• More of Tesla's sales came from actually selling its electric cars. It raked in $354 million from selling regulatory credits to automakers — $74 million less than this time last year.

What they’re saying: "Public sentiment and support for electric vehicles seems to be at a never-before-seen inflection point,” the company said.

👀China-based private tutoring company stocks cratered after Chinese regulators barred the companies from making a profit and restricted foreign money investments. (NY Times)

• Shares of Koolearn Tech fell 33%.

Buzzy electric vehicle maker Lucid Motors closed out its first day of trading up more than 10.6%, Axios’ Hope King writes. 

Catch up quick: Like many other pre-revenue, pre-production EV companies over the past year, Lucid chose to go public by merging with a SPAC.

Why it matters: Retail investor interest in the stock of the SPAC, Churchill Capital IV, has been both a blessing and a curse. 

• It helped CCIV become one of the most-traded SPACs, bringing with it social media chatter and free publicity.
• But Lucid almost couldn't get shareholder approval for the SPAC deal. It had to extend its special shareholder meeting last week to get enough votes — as email spam filters reportedly kept retail investors from voting.

What they're saying: Peter Rawlinson, CEO and CTO of Lucid, tells Axios, “I look at it positively … We’ve got blue chip investors and retail investors. That sets us up well for the future.”

• But the recent voter snafu means that "if this is the way the market is going, we have to have some sort of standard communication system."

Continue reading: Inside Lucid Motors' new Manhattan showroom

Welcome to Twitter, SEC chair Gary Gensler. (Is Reddit next?)