Google is well positioned amid tech stock selloff, says Futurum Group CEO Daniel Newman

Core Viewpoint - Alphabet is facing challenges in the current market environment, but its fundamentals remain strong, particularly in Google Cloud, which is expected to grow by 35% [2][4]. Company Performance - Google Cloud is projected to continue its robust growth, contributing significantly to Alphabet's overall performance [2]. - Despite market volatility, Alphabet's advertising model remains resilient, and its search and YouTube metrics are strong [4][5]. Market Trends - There is a notable rotation in investments, with some investors moving towards traditional companies like Walmart and Starbucks, while still recognizing the importance of AI companies like Google, Meta, and Amazon [8]. - The current market sell-off appears indiscriminate, affecting various sectors, but the demand for AI-related technologies remains high [12]. Competitive Landscape - Concerns about competition from OpenAI and other AI companies have been addressed by Alphabet's advancements, particularly with the introduction of Gemini [4][5]. - The narrative around Google oscillates between it being a declining entity or a monopoly, highlighting the polarized views on its market position [4]. Investment Considerations - The stability of Google is emphasized, with the potential for continued investment in capital expenditures (capex) being a key focus for the company [6]. - The ongoing buildout of AI infrastructure by major players like Google and Microsoft indicates a sustained demand for computing resources, despite short-term market corrections [10][11].