Group 1 - Major technology companies Microsoft, Alphabet, and Meta Platforms are set to report earnings after market close on Wednesday [1] - Healthcare companies Eli Lilly and Company and Merck & Company Inc. will report pre-market on Thursday, followed by Apple Inc. and Amazon.com Inc. after market close [1] - The following week will see further technology earnings reports from Advanced Micro Devices, Arista Networks, QUALCOMM Incorporated, and Arm Holdings after market close on Tuesday and Wednesday [1]

We're back all morning movers in Dian King Hall here on the floor of the big board to preview today's big tech earnings. I'm joined by Ivana Devka, founder and CIO of Spear Invest. Ivana, it's so good to see you.All right, before we dive into your overall expectations for the Mag 7, um I'm curious to know your thoughts on earning season so far because the beat rate is higher than usual at more than 85% at my last check. What's your thought on this earning season so far. Well, Dan, I think the setup is very ...

Core Viewpoint - The article argues that AI is not a bubble but a genuine and long-term productivity revolution, supported by significant user growth and revenue from leading AI companies like OpenAI and Nvidia [2][3][7]. Market Analysis - This year marks the third year of the current AI bull market, with a historical probability of 48% for continued market growth next year [3][18]. - Investors should maintain patience regarding AI development, as significant returns often require time, as evidenced by Azure's six-year journey to positive ROIC [3][22]. - The AI sector has shown a remarkable return of 165% over the past three years, significantly outperforming the S&P 500 and non-AI companies [7][8]. AI Growth Dynamics - AI growth has diversified beyond the "Magnificent Seven" companies, with returns from AI sectors excluding these giants surpassing them for the first time in 2025 [10][13]. - New AI winners are emerging in sectors like energy, semiconductors, and software, with AI energy showing a 53% return year-to-date [13][15]. - The growth of AI is shifting towards energy, computing power, and foundational software, indicating a structural change in the industry [15]. Historical Context of "Bubble" - The article emphasizes the importance of long-term holding and understanding market cycles, suggesting that the probability of market growth remains significant even after multiple years of increases [17][20]. - A historical analysis indicates that the current market conditions do not exhibit the characteristics of a bubble, as the valuation metrics are not at extreme levels compared to past bubbles [38][40]. AI's Economic Impact - AI is expected to generate substantial revenue growth, with projections indicating a potential tenfold increase in AI-related profits over the next 5-10 years, reaching $1 trillion [3][90]. - The AI sector's revenue is anticipated to account for 4% of global corporate profits, highlighting its significant economic impact [3][90]. Investment Principles - The article outlines key investment principles for navigating the AI landscape, emphasizing the importance of not selling early during massive adoption phases and recognizing the distinct investment logic across different stages of AI development [117][119]. - Monitoring indicators such as OpenAI's progress and enterprise revenues is crucial for assessing the health and growth potential of the AI industry [122].

分组1 - Nvidia's CEO Jensen Huang participated in an AI summit, indicating the company's ongoing focus on artificial intelligence [1] - The Federal Reserve is expected to announce a 25 basis point interest rate cut, with a 99.9% probability priced in by traders [2] - Concerns arise regarding the Federal Reserve's economic analysis due to data being on hold from the government shutdown [3] 分组2 - OpenAI has restructured into a nonprofit named the OpenAI Foundation, holding a controlling stake valued at approximately $130 billion in its for-profit entity, OpenAI Group PBC [4] - Microsoft has a significant investment in OpenAI's for-profit arm, amounting to $135 billion, representing about 27% of the company on a diluted basis [4][5] 分组3 - Boeing reported earnings for Q3, returning to cash-positive status for the first time since 2023, despite a $4.9 billion charge related to 777X delays [10] - The company is on track for its highest delivery numbers since 2018, with CEO Kelly Ortberg noting positive signs across the business [11]

shares of Alphabet with some solid gains over the past three months. The company reporting its latest results after the close today. Our Mackenzie Sagalos has the number one number that investors need to watch.>> As Alphabet prepares to report after the bell, the company is writing two very different AI storylines. So, one is driving momentum in cloud where Google's gaining ground. And then the other is testing the durability of search, still its most important business and the one most exposed to disruptio ...

Mega cap tech names including Alphabet, Meta, and Microsoft. They are expected to report quarterly results after the bell. Joining us right now, Brad uh Erikson is the RBC Capital Markets internet service senior analyst.Good morning to you. So, we were talking earlier in this hour just about how it seems every time a company announces they're going to be spending more money to build data centers, more money uh in the world of AI that the stock goes up rather than down. Do you think that that is going to be ...

Core Points - French lawmakers have passed a bill to increase taxes on large tech companies, potentially provoking retaliatory measures from the U.S. government [1] - The proposed amendment raises the digital services tax rate from 3% to 6%, which is less aggressive than a previous proposal to increase it to 15% [1] - The amendment is part of the 2026 budget proposal and does not guarantee final enactment into law [1] Group 1 - The French National Assembly approved an amendment that could significantly increase taxes on companies like Amazon, Alphabet, and Meta [1] - U.S. Republican lawmakers have warned that raising the tax rate to 15% would be an unwarranted attack on American tech companies, leaving Congress and the Trump administration with little choice but to retaliate [1] - The French government, lacking a majority in parliament, is cautious about the proposal and aims to collaborate with lawmakers [1] Group 2 - French Finance Minister Roland Lescure acknowledged the parliament's desire to strengthen taxes on digital giants and emphasized the need for careful handling of tax rate increases [5] - The French government is under pressure to control its significant fiscal deficit, which is the largest in the Eurozone [5] - A new amendment proposed by the far-left opposition party imposes a universal tax based on multinational companies' business activities in France, but Lescure stated that this measure would be unimplementable due to existing bilateral tax treaties [5] Group 3 - The proposed tax rate increase is expected to generate approximately €700 million (about $814 million) annually, which lawmakers argue is disproportionate compared to the profits large tech companies make in France [6] - The threshold for companies subject to this tax will be raised from €750 million to €2 billion in global revenue [6]

Core Insights - Alphabet Inc. commands a market capitalization of $3.3 trillion and operates a diversified portfolio across various sectors including digital advertising, search, cloud computing, artificial intelligence, consumer hardware, and digital media platforms [1] Performance Overview - Over the past year, Alphabet's shares have gained 60.4%, significantly outperforming the S&P 500 Index, which rose by 14.5% [2] - In 2025, Alphabet's shares have climbed 41.3% year-to-date, more than doubling the S&P 500's 17.2% increase [2] - Alphabet has also outperformed the Technology Select Sector SPDR Fund (XLK), which recorded a 31.2% return over the past year and a 29.9% gain in 2025 [3] Business Momentum - The company's strong performance is attributed to easing regulatory concerns and consistent business momentum, particularly in Google Cloud and the integration of AI into its products [4] - Alphabet surpassed a $3 trillion market valuation for the first time on September 15, with a daily increase of 2.8% [4] Earnings Expectations - For the current fiscal year ending in December, analysts project Alphabet's EPS to grow by 23.4% to $9.92 on a diluted basis [5] - The company has a strong earnings surprise history, beating consensus estimates in each of the last four quarters [5] Analyst Ratings - Among 56 analysts covering Alphabet, the consensus rating is a "Strong Buy," consisting of 42 "Strong Buy" ratings, five "Moderate Buys," and nine "Holds" [5] - The bullish sentiment has increased from a month ago when 41 analysts issued a "Strong Buy" rating [6] - Stifel analyst Mark Kelley reaffirmed a "Buy" rating on Alphabet and raised the price target from $222 to $292 [6]

Core Insights - Alphabet has diversified its investment strategy by building an equities portfolio valued at over $2.1 billion, consisting of 36 stocks, indicating a trend among large companies to invest in publicly traded firms using their own capital [2][4]. Group 1: Investment Moves - Alphabet has exited its long-term investment in CrowdStrike, a cybersecurity firm, which it initially invested in through its CapitalG fund, reflecting a strategic shift in its investment focus [4][5]. - The decision to divest from CrowdStrike may be attributed to the company's significant stock performance, which has increased over 700% since its IPO in 2019, allowing Alphabet to realize substantial gains [5][6]. Group 2: CrowdStrike's Performance - CrowdStrike has experienced steady revenue growth of close to 30% between fiscal 2024 and 2025, although recent management guidance has disappointed investors [7]. - The company is facing challenges, including growing losses due to a major tech outage in 2024, which is expected to incur $5.4 billion in charges, impacting its financial stability [8][9]. Group 3: New Focus - Following the exit from CrowdStrike, Alphabet has shifted its investment focus towards a space stock that, despite having little revenue, presents a compelling use case, indicating a strategic pivot towards emerging sectors [9].

Group 1 - SNAP will suspend federal food aid from November 1 due to the government shutdown, affecting millions of Americans [3] - Kenvue has appointed a new chief marketing officer amid legal challenges regarding Tylenol marketing related to autism risk [3] - Melissa, a Category 5 hurricane, made landfall in Jamaica and may impact the hotel sector [4] Group 2 - The Federal Reserve is expected to reduce its key rate by 25 basis points to a range of 3.75%-4.00% during the upcoming meeting [5] - Policymakers are entering the meeting without key economic data due to the government shutdown, including nonfarm payrolls and the core PCE index [6] - Wall Street strategists anticipate the Fed may signal an end to balance sheet reduction by year-end as reserves approach "ample" levels [7] Group 3 - Seeking Alpha sentiment shows mixed expectations among subscribers regarding the number of Fed cuts before year-end, with 50% forecasting one cut and 44% expecting two more in 2025 [8] - Cameco and Brookfield are partnering with the U.S. for an $80 billion nuclear initiative [9] - Microsoft and OpenAI's collaboration is expected to accelerate AI advancements [9]