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alphabet also announcing an additional $770 billion buyback joining us now to discuss is Dan IES of wed Bush Securities Dan I know you are expecting good things here I don't know if uh it's more exciting to talk about Google Cloud turning in this uh n and a half billion plus Revenue number or YouTube continuing to be strong but uh the names in advertising reporting today alphabet and snap performing better than meta did look I mean this is a quarter that they should frame and put in in the L because if you look across the board from a search perspective from YouTube then you can Cloud some of the parts and my colleague and I Scott Dev we think this could be $30 to $40 per share incremental to Google's valuation there is nothing in here that I view as a negative this is the Bulls are going to sleep well at night with this quarter uh let's hold on just a sec Dan let's go back to deod damosa who's got more on alphabet D hey John I just got off the phone with CFO CIO and president Ruth porat I asked her about what they're seeing in terms of ads and generative AI queries she said that they're encouraged with what they're seeing in testing they're pleased with the ongoing strength and resilience in search she pointed to that search ads number beat and she's also said she's excited about what generative AI can add to the user experience on that dividend she said it further strengthens their overall Capital return program and Capital allocation framework Remains the Same they continue to invest aggressively in the business and finally on that cloud growth I know you were just talking about it she said that they're seeing increasing contribution from AI Solutions and the results reflect broad strength across Industries she also mentioned that Google workspace was driven by an increase in average revenue per seat she was also asked about the CFO question when are they going to find her replacement she had no comment there all right for now she's got multiple jobs d uh thank you Dan back to you on some of this uh Ruth par mentioning AI there but contrasting with meta is it possible that Google's under investing in AI if investors aren't mad at how much they're spending compared to the reaction to meta yesterday look I think it's it's a star change to what you saw you know 24 hours ago but it comes down to they have a gold mine of AI engineers in data and now they're starting to monetize it clearly 6 months ago 9 months ago backwards against the wall but this is really a this is a new Google I mean you're seeing massive not just from an investment perspective but the growth's there and this could be next 6 to 9 months where really starts a a gold mine situation for them on AI it's not just Microsoft but in this AI Revolution Google is going to be a key player the fact that you now have meta paying a dividend you have Microsoft paying a dividend I know that's been going on for a while you have alphabet paying a dividend I mean is this going to force the hands of the other Mega cap tech companies that are already highly profitable to do something similar and I guess just as importantly when you see some of these companies initiate these dividends does it actually widen the investor base uh Morgan that's a great question I think it's taking a a page out of Apple's Playbook you know if you look back over the years these companies they're generating more cash in some countries and that's not going to stop and what it's doing here is from a capital allocation perspective they're still going to be aggressive on m&a dividends buyback these are the smart moves and I think that's why we are just in the early stages of this next tech bull market you look at these numbers I think it just showing the mization of AI cloud is actually accelerating unless you have a telescope it's hard to find a recession I think it's just Amazon left Morgan yeah I think you're right yeah and then I mean if you want to yeah I guess so um that says that listen I know you don't cover snap we're seeing huge move in those shares Dan and we're talking about a little bit earlier but you know it does speak to some of these earnings we've gotten in the last say 24 hours 25 hours the fact that digital advertising is is is strong you're seeing increasing green shoots where that is concerned what are the read through to some of the other companies we haven't heard from yet yeah I mean we we did a survey you know over the last month at wedbush and that's exactly what it showed I mean we were seeing not just green shoes I think actually a significant rebound that's not priced in to what we're seeing in terms of the whole broader space this is just the beginning of this digital advertising rebound and that even though Enterprise been strong Cloud that is not participated that's going to be another missing piece of the puzzle that what I believe we're going to just see a massively strong Tech earning season tonight it's it's a pound the table moment for Tech relative to 24 hours ago it'll wh Knuckles from The Meta spending like a 1980s Rockstar in AI but where's that money going Microsoft Google Amazon Dan how do you connect the dots here with the macro because we're just ringing our hands some people anyway as the market was opening over that GDP read but there's so much indication that consumers are continuing to spend and that advertisers are at least spending to benefit from that yeah John I think that's what's really starting to happen is that we're seeing this rebound digital advertising and despite even some of the the GDP numbers I could tell you from an Enterprise perspective I mean this is something that reminds me in 1995 not 1999 because we're in a fourth Industrial Revolution and the beneficiaries are Tech and now the second third fourth derivatives of this AI Revolution we're going to see it across software infrastructure consumer Enterprise it's just started this is a get out the popcorn moment to where I think think we're going in Tech
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