despite beating revenue estimates in the third quarter. Deep Instinct CEO and former Palo Alto CEO Lane Bess joins the discussion to share his insights on why he believes Palo Alto"should be feeling pretty good about these numbers overall."Let's get you up to speed on the action from today's session, Jared and I here at the Wi Fi Interactive where we've got the dow closing lower by about a half 1% pretty much near the lows of the day here.
It's one of those weeks it was in, I mean, now it's the big event of the week is NVIDIA after the close on Wednesday and so little bit of waiting game.Well, market is closing the day mixed as investors were dealt more fed commentary that reiterates the higher for longer narrative of San Francisco fed President Mary Daley, assuring there is no urgency to adjust rates for more on what the hawkish fed stances mean for investors moving forward.
So probably a good thing that heading into a big earnings like that, there's not this historic kind of concentration and high expectations uh for that sector.Um You know, the the momentum we saw off the October 23 lows um the breadth and momentum of that rally really historically portends um strong intermediate term returns, right?Um and on through really the dip in April, it is something that portends strong returns over, you know, the next 12 months historically.
Al although there are plenty of value there, you know, a lot of that the aggregate pe uh being lower is just based on industry and sector mix. So, so I'm always a little bit of a bull international but there, there's a little bit more to the case than there usually is.Um The All World X Us is, is plumbing new highs just alongside the dow and the S and P so um some momentum, some economic uh you know, bottoming and a lot of like abroad.I think you, I think you very timely comment.I mean, a as of this time last year we were talking about is China investable period.
So just the mix of earnings and how that breaks down, just not seeing those larger purchase or larger customers in right now, right.Well, Qualcomm looking to advance its A I play, we'll speak to the company CFO on the other side, more market domination overtime coming up, looking to advance its A I play the company set to power Microsoft's next generation of Windows P CS with its A I chips.
Can you give me any numbers around it about what, what contribution you're gonna see perhaps to sales this year?This is a massive silicon market and it's not often in our generation that you get to enter a new market like this. And, and that really, you can kind of extrapolate that into a different set of numbers and we'll see how it plays out.
And the way to think about uh on device A I is really it is something that enables use cases that cannot happen in the cloud because it has privacy benefits, security benefits, it has latency benefits and it has a very significant cost benefit because once you buy the device, uh the compute capability is already available on the device and you can run use cases really for free on an incremental basis.
And oftentimes the platform players while they go broad, uh they're not necessarily building and or acquiring the best of breed, they're trying to put together a lot of different cyber solutions that will serve different customer needs A I in terms of prevention is where the market is going to have to go.
And the generative A I threats, particularly the ones we're seeing a deep instinct that most of the platform players cannot stop is going to be a key area to focus on.
Uh We're voting and we're believing that uh the A I uh uh approach in terms of prevention is going to be the way boards are going to demand. The Home improvement retailer saw its rival Home Depot Miss expectations last week and investors will look to see lows will struggle to as inflation continues to restrict discretionary spending and other names to watch Xon Macy's and Urban Outfitters.
Be sure to come back tomorrow at 3 p.m. Eastern for all of your market coverage leading up to and after the closing bell.
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