The Department of Justice (DOJ) is considering breaking up AlphabetThe Department of Justice (DOJ) is considering breaking up Big Tech titan Alphabet Inc (NASDAQ:GOOGL), after a court ruling determined the company monopolized the online search market, per a Bloomberg News report. This comes amid Alphabet's Pixel phone launch, which showcased its Gemini technology and positioned it as a leader in bringing artificial intelligence (AI) to smartphones.GOOGL was last seen down 1.2% to trade at $162.20, after a r ...

In a rare occurrence, the Department of Justice is weighing on whether to break up Alphabet (NASDAQ: GOOGL) after an antitrust ruling that claims that the search engine giant monopolized the search market. After Judge Amit Mehta's August 5 ruling found GOOGL guilty of looking up 90% of the search engine market, the Dol is considering whether to force Alphabet to divest from its key ventures, such as Android, Chrome, and its AdWords platform, in a move that could seriously impact the company. The most recent ...

证 券 研 究 报 告 Alphabet（GOOGL）FY2024Q2 业绩点评及法说会纪要 会议时间：2024 年 7 月 23 日 AI、无人驾驶等新领域布局，助推业绩增长 会议地点：线上 ❖ 事项： 2024 年 7 月 23 日 Alphabet 发布 FY2024Q2 报告，并召开业绩说明会。 ❖ 评论： 1. 业绩情况：FY2024Q2 实现营业收入 847 亿美元（YoY+14%，QoQ+5%）。 营业利润为 274 亿美元（YoY+26%，QoQ+8%），营业利润率为 32% （YoY+3pcts）。净利润为 236 亿美元（YoY+29%，QoQ-0.2%）。EPS 为 1.89 美元，高于分析师预期 1.85 美元。 2. 分业务看：谷歌服务收入 739 亿美元（YoY+12%），其中广告收入 646 亿美 元（YoY+11%）；非广告收入为 93 亿美元（YoY+14%）。广告业务中，谷歌搜 索营业收入为 485 亿美金（YoY+14%）；YouTube 广告营业收入为 87 亿美金 （YoY+13%，QoQ+7%）；谷歌网络收入为 74 亿美金（YoY-5%）。谷歌云收 入 103 亿 ...

Core Insights - The earnings season is impacting market direction, with results from tech giants and sector leaders being particularly influential [1] - Investors are advised to consider long-term growth potential rather than focusing solely on quarterly results [1] Company Summaries Alphabet (GOOGL) - Alphabet reported strong performance in its Search and Cloud businesses, but YouTube advertising revenue growth slowed and missed expectations [2] - BMO Capital analyst Brian Pitz maintained a buy rating with a price target of $222, citing AI-related benefits in Search and raised estimates for the Cloud business [2][3] - Pitz believes YouTube is well-positioned to capture a share of the $150 billion global linear TV ad market, supported by superior AI Creator tools [3] ServiceNow (NOW) - ServiceNow delivered strong second-quarter results, exceeding expectations in net new annual contract value and generative AI contributions, leading to an increased 2024 subscription revenue outlook [4] - Goldman Sachs analyst Kash Rangan raised the price target for NOW stock to $940 from $910 and reaffirmed a buy rating, noting a 13% surge in shares post-results [4][5] - Rangan highlighted a 22.5% growth in remaining performance obligation, indicating strong future revenue potential driven by robust NNACV and early renewals [5] Travel + Leisure (TNL) - Travel + Leisure exceeded earnings expectations but fell short on revenue estimates, raising its full-year adjusted EBITDA guidance due to strong consumer demand for vacation ownership [7] - Tigress Financial analyst Ivan Feinseth reaffirmed a buy rating and raised the price target to $58 from $54, citing demand for vacation ownership and anticipated benefits from lower interest rates [7][8] - Feinseth identified strategic partnerships and technology investments as key growth catalysts for TNL, including the acquisition of Accor Vacation Club [8]

谷歌（GOOGL/GOOG） 更新报告 收入利润和云业务均超预期，AI 开始贡献收入增长 24Q2 业绩总览：24Q2 公司营业收入为 847 亿美元（YoY+13.6%,QoQ+5.2%）， 净利润 236 亿美元（YoY+28.6%,QoQ-0.2%），收入和利润均超出市场预期。 其中，谷歌服务收入 739 亿美元（YoY+11.5%）；谷歌云业务收入 103 亿美元 （YoY+28.8%）。整体看搜索广告业务保持稳健增长，云业务呈现高速增长。 截至 24Q2 季度末，公司拥有 1007 亿美元的现金及等价物，经营现金流入 266 亿美元。24Q2 公司向 A/B/C 类股票的股东分别支付股息 12 亿/1.7 亿/11 亿美元，总计 25 亿美元。并宣布下季度派发 0.2 美元每股股息。 业务重点：本季度谷歌搜索和其他广告收入 485 亿美元（YoY+13.8%）,其增 长受益于零售行业的增长。在效果广告和品牌广告的推动下，YouTube 广告 收入达到 86.6 亿美元（YoY+12.9%）。网络广告收入 74.4 亿美元（YoY5.2%）。订阅、平台和设备收入为 93.1 亿美元（YoY+14.4% ...

Investment flows into mutual funds and exchange-traded funds reinforce the degree to which large technology stocks have dominated the U.S. stock market this year—that is, until this month's well-documented rotation out of those stocks. Technology funds attracted $4.2 billion in net inflows in the second quarter, wrapping up a first half in which when they gathered $17 billion, according to an LPL analysis of Morningstar data. Of the 10 market sectors composing the benchmark S&P 500 Index, only two others—i ...

证券研究报告 | 公司动态点评 2024 年 07 月 25 日 谷歌（NASDAQ:GOOGL） 24Q2 实现稳健增长，AI 持续赋能各业务领域 | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|------------|------------|------------|------------|------------|----------------------------------|--------------| | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 买入（维持评级） | | | 营业收入（百万美元） | 282,836.00 | 307,394.00 | 339,731.85 | 376,898.51 | 419,224.22 | 股票信息 | | | 增长率 yoy（%） | 9.78 | 8.68 | 10.52 | 10.94 | 11.23 | | | | 归母净利润（百万美元） | 5 ...

Despite meeting analysts’ expectations in its recent earnings report, Alphabet (NASDAQ: GOOGL) stock experienced a notable sell-off. This downturn was primarily driven by CEO Sundar Pichai’s comments on the prolonged timeline for artificial intelligence (AI) to yield significant returns. According to sources, Pichai emphasized the need for continued efforts to unlock AI value, which led to profit-taking among traders in the tech sector.In Q2 2024, Alphabet posted strong results in search advertising and clo ...

证券研究报告 | 季报点评 2024 年 07 月 25 日 谷歌-A（GOOGL.O） 广告和云强劲增长，持续探索 AI 应用 谷歌 2024Q2 收入高增长。Alphabet 2024Q2 营收 847.4 亿美元，yoy+ 14%。 分业务看，谷歌服务、谷歌云、Other Bets 分别为 739.3、103.5、3.7 亿美元， yoy+11.5%/28.8%/28.1%。净利润为 236.2 亿美元，yoy+28.6%。 2024Q2 公司资本支出为 132 亿美元，公司预计全年几个季度资本支出将保持在 类似一季度 120 亿美元的水平或者更高。分红方面，本次财报谷歌宣布将向股东 派发每股 0.20 美元的现金股息。 谷歌广告表现强劲。2024Q2 谷歌广告收入 646.2 亿美元，yoy+11.1%。其中， 谷歌搜索及其他收入 485.1 亿美元、yoy+13.8%，主要受益于零售行业的增长， YouTube 广告收入为 86.6 亿美元、yoy+13%，主要受益于品牌广告和效果广告 的增长，谷歌 Network 收入为 74.4 亿美元，yoy-5.2%。 谷歌云收入首次单季度突破 100 亿美 ...

Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023.Meta CEO Mark Zuckerberg has been assembling a large stockpile of Nvidia chips, spending billions of dollars so his company can develop and train advanced artificial intelligence models.But even he says the AI hype may be driving too much investment."I think that there's a meaningful chance that a lot of the companies are overbuilding now and that you look back and you' ...