'Fast Money' traders look ahead to next week's big tech earnings

Market Expectations & Strategy - The market is positioned for tariff impacts to be less of a headwind than previously anticipated [1] - Caution is advised as earnings season progresses [2] - Overall earnings expectations from analysts and investors have increased, requiring close monitoring [4] Google (Alphabet) Analysis - Google has underperformed compared to other Mag 7 companies like Microsoft over the last 3 months [2] - Google's valuation is considered cheaper than its peers, potentially discounting concerns about AI cannibalizing its search business [11] - Investors will scrutinize Google's plans for transitioning to AI-driven search and defending its incumbent search business [6][7] - Focus is on whether Google's AI search is diminishing ad revenue [12] - The bar for Google's earnings is not as high as for some other companies [13] AI & Capex - The market is looking for insight into capex spending, particularly related to AI [7] - Concerns exist about the monetization of significant capital expenditure in AI [10] - The timing of when AI investments will translate into margin expansion is a key question [9]