Core Viewpoint - Alphabet's stock significantly outperformed Microsoft in 2025, with a 65% increase compared to Microsoft's 16% gain, raising questions about which company will lead in 2026 [1] Microsoft Overview - Microsoft experienced strong performance in 2025, with total revenue growth of 18% year over year and adjusted earnings per share (EPS) growth of 23% [2] - The growth was primarily driven by its cloud computing unit, Azure, which saw a 40% revenue surge, marking the ninth consecutive quarter of over 30% growth [3] - Microsoft is facing capacity constraints in Azure, prompting an increase in capital expenditures (capex) for fiscal 2026 [3] - Microsoft maintains a 27% stake in OpenAI and has exclusive rights to its large language models (LLMs), which is expected to support future growth [4] - The integration of OpenAI's technology into Microsoft products, along with a planned price hike for Microsoft 365 enterprise users, is anticipated to boost revenue [5] Alphabet Overview - Alphabet's growth is also led by its cloud computing unit, Google Cloud, which reported a 34% revenue increase and an 84% surge in segment operating income [6] - Alphabet's competitive advantage lies in its custom AI chips, Tensor Processing Units (TPUs), which provide a structural cost advantage over Microsoft's reliance on Nvidia's GPUs [7] - Alphabet has developed Gemini, a leading LLM, which offers flexibility and additional revenue streams compared to Microsoft's dependence on OpenAI [8] Valuation and Outlook - Both Alphabet and Microsoft have similar valuations, with Alphabet trading at a forward price-to-earnings (P/E) ratio of 28 and Microsoft at 30 for fiscal 2026 [10] - Alphabet is expected to outperform in 2026 due to its comprehensive AI technology stack and potential revenue growth from AI initiatives, particularly if it begins renting out its TPUs [11]

McKenzie, what else are you watching. >> So that MAG7 trade is splint splintered and the divide really comes down to who's converting AI spend to actual margin. So what I'm watching, let's start with the lagards.Microsoft, Meta, Apple, and Amazon all underperforming the S&P this year. Amazon's in last place at 6%. Meta had its worst day in three years after raising its capex guide.CEO Mark Zuckerberg has poured tens of billions into AI talent, reorged the AI unit four times in six months this calendar year, ...

Oracle is transforming from a tech stalwart to a major player in infrastructure and services for high-performance computing.Shares of Oracle (ORCL 1.49%), the database and cloud computing specialist, have kept pace with the S&P 500 in 2025 -- up 17% year to date at the time of this writing, compared to a 17.5% gain in the index. But the tech giant's stock is down about 40% from its all-time high (made in August of this year).In hindsight, Oracle's stock probably ran up too far, too fast in a short period, d ...

Core Insights - Amazon is positioned to potentially join the $3 trillion market capitalization club by the end of 2026, driven by growth in its cloud computing division and strong profits from its e-commerce business [3][9] Company Overview - Amazon currently has a market capitalization of $2.48 trillion, suggesting a potential 21% return for investors if it reaches the $3 trillion milestone [3] - The company operates in diverse sectors, including e-commerce and cloud computing, maintaining a dominant market position [9] Cloud Computing Division - Amazon Web Services (AWS) is the leading cloud computing platform, evolving into a central component of Amazon's artificial intelligence strategy [5] - AWS provides advanced data centers and computing capacity to AI developers, featuring proprietary chips like Inferentia and Trainium, which outperform competitors by up to 40% in price performance [6] - The AWS Bedrock platform offers businesses access to pre-built AI models, facilitating quicker achievement of AI objectives [7] Financial Performance - AWS reported a record revenue of $33 billion in Q3 2025, marking a 20% year-over-year increase, the fastest growth rate since Q4 2022 [8] - AWS has a substantial order backlog of $200 billion, indicating strong future revenue potential as customers await additional data center capacity [8]

Nvidia Bulls are still trying to make sense of its $20 billion surprise deal for AI chip player Grock. Nvidia didn't even put out an SEC filing on this one. I mean, go figure.It also hasn't said anything publicly about this deal. The only one who has had something to say is the likely much wealthier Grock founder Jonathan Ross. Ross pointed out on his LinkedIn over the weekend.Clearly, he's jazzed about this. He will be joining Nvidia as chief software architect. Big role for Jonathan there for sure.While t ...

文 ｜ 阑夕 今年的火山引擎Force大会，有一个细节的改变，很有意思。 火山引擎的视频云，以往都会在介绍Title上写明「抖音同款」，而在这次，取而代之的是一个全新但也眼熟的标签：「豆包同款」。 根据奥卡姆剃刀原则，如无必要，火山引擎不会如此费心的去「抠字眼」，这种改动，必然机遇市场风向的变化。 或者更直接的说，客户对于视频云的要求，彻底和以前不一样了。 根据IDC的数据显示，随着2022年视频云的产值首次超过100亿美金，以及大模型行业的从无到有，在AI加速融合到云服务的周期里，由多模态模型提供 的实时互动场景，以及智能化的媒体生产方案，叠加以前的视频化、高清化、出海化需求，未来5年的市场增速会高达20以上，相当于中国IT大盘增速的 两倍以上。 于是，就有了「江山代有才人出」的剧本出现。 · · · 「抖音同款」的价值倒不是消失了，当它已经成为火山引擎视频云的标准之后，继续强调的意义就不大了。 这就像是早年电商平台的供给参差不齐，一家店铺只要声明支持退换货，就能增强不少竞争力，后来退换货成了平台的普遍政策，店铺也就不再标榜这项 服务了。 对视频云有需求的企业客户，确实曾经会为「抖音同款」的能力买单，那时的 ...

Group 1: SoftBank and Digital Bridge Acquisition - SoftBank has made a proposal to acquire Digital Bridge for approximately $2.9 billion, offering around $16 per share, which is above the closing price on the previous Friday [2] - This acquisition aligns with SoftBank's strategy of divesting its stake in Nvidia, valued at approximately $5.8 billion, as it shifts focus towards AI applications and inference technologies [3] Group 2: Amazon's Performance and Outlook - Amazon's stock has seen a modest increase of about 2.5% over the past year, with a current price target set by Evercore at $335, significantly higher than its current trading price [5] - The company is recognized for its scalability across various platforms, including subscription services and e-commerce, with AWS reporting a year-over-year growth of 20% [6] - Despite high capital expenditures of around $125 billion in the last year, this is considered reasonable relative to its sales of nearly $700 billion [7] Group 3: Housing Market and KB Homes - The housing market is facing challenges due to positive real interest rates, particularly with 10-year yields exceeding 4%, which is impacting growth [9] - JP Morgan has cut KB Homes' price target from $71 to $50 while maintaining a neutral rating, reflecting downward revisions in earnings estimates [10] - The company is expected to see a lower return on equity estimated at around 6%, down from a previous consensus of 11%, with sales growth decelerating to approximately $6.2 billion [11]

All right, it's been another solid year for the Mag 7 collectively. The CNBC index that tracks those mega cap names up more than 25%. But as Mackenzie Sagales reports, there's a growing disparity between the halves and the have nots within the Mag 7.The Mag 7 trade is splintered this year, and 2026 could widen that gap even further. We're looking at a roughly 60 percentage point spread between the best and worst performers. Alphabet up 65%, Amazon just 5 a.5% with the market now differentiating based on who ...

分组1 - Newsmax experienced a dramatic share price increase of over 2,200% in its first two days of trading, valuing Chris Ruddy's stake at more than $9.1 billion, but shares subsequently fell nearly 80%, reducing his net worth to about $339 million [1] - Venture Global Inc. had a challenging IPO debut, lowering its share price range by over 40% and seeing shares plunge more than 60% shortly after, leading to co-founders Mike Sabel and Bob Pender each having a net worth of $23.7 billion initially [2] - The Bloomberg Billionaires Index indicates that insiders whose stakes surged to at least $1 billion on the first trading day have seen an average decline of 23% in value over the following weeks or months [3] 分组2 - The return of IPO activity this year resulted in 21 new billionaires, but many companies faced significant declines in share prices after their initial public offerings [4] - Figma's shares fell 55% since its opening IPO price, with a 68% drop from its peak shortly after trading began, reflecting investor disappointment in its revenue outlook [5][7] - Bullish's shares, despite an oversubscribed IPO raising $1.1 billion, have fallen approximately 45% from their peak, indicating volatility in the cryptocurrency market [8][9] - Circle Internet Group's shares more than doubled on its first trading day, but the initial excitement waned, although regulatory developments have helped maintain a price above the offering [10] - Klarna's shares rose 15% on its debut but have since weakened due to increased provisions amid inflation concerns, impacting co-founders' net worth [14] - Webull's shares surged nearly 375% on its first trading day but quickly fell back to the offering price, reflecting the volatility in the retail brokerage sector [21] - CoreWeave's shares increased by 96% since its opening IPO price, becoming a significant player in the AI space, although they have since declined from record highs [22][23]

24/7 Wall St. Quick Read BAI holds $8B in assets with nearly 60% in information technology. NVIDIA and Broadcom alone represent 18% of the fund. Goldman Sachs projects AI infrastructure spending will exceed $500B in 2026, up from roughly $400B in 2025. The fund’s 56% turnover allows rotation across the AI stack but concentrates 40% in seven names. A recent study identified one single habit that doubled Americans’ retirement savings and moved retirement from dream, to reality. Read more here. T ...