Tech earnings in review: Yahoo Finance Reports

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Winthrop Capital Management Portfolio Manager,Microsoft,Piper Sandler Equity Research Analyst

Some of the biggest names in tech including Microsoft (MSFT), Meta (META), and Advanced Micro Devices (AMD), reported earnings this past week. Yahoo Finance ...

speaking on the"Magnificent Seven" stocks),"when are you going to start making some money on all of this investment that you've been doing on this AI infrastructure?"We take a deeper dive into the results and get expert analysis plus a look at the implications for the broader market, taking a look at Microsoft's results after the bell on Tuesday.

I mean, look, you, you saw Microsoft fall 4% post earnings or 3% right now and the S and P is rallying up almost a point and a half. I'm curious to talk a little bit more about that because we know for example, that for every $9 spent on A I cap back from the hyper scaler, they only earning one additional dollar loop, but that's a stat that's been true for a while.What do you think was the catalyst for making this become a red flag to investors?You know, I think you're starting to see some cracks in the global macro landscape.

I mean, it, it, you know, knocked it out of the park and, and you're seeing a great performance there as well. Yeah, I mean, listen on the surface you're talking about the primary growth engine for Microsoft, their Azure business.Uh the same quarter that spending on cloud infrastructure and A I infrastructure searched from 14 billion to 19 billion.

Uh It is a debate but I would also tell you that half, about half of the, the Capex spend that Microsoft is investing in is in long life assets that will be generating cloud services and A I services for well, more than 15 years, we're talking real estate power contracts, data center shells. Um based on optimism and this acceleration in A I and, and cloud acceleration and it was a little bit of a downtick.I think it is temporary and I think you're gonna see based on the the activity, the success uh a much stronger uh acceleration here going into the early part of next year.

I think a lot of concerns on the amount of spend particularly Capex dollars and their ability to monetize uh that Capex this quarter much more positive nar narrative. Do, do you think consumers are fully grasping and users of these services are fully grasping the use cases for A I? And it's also proving to be an issue and challenging here for some of its uh larger cap uh tech uh tech peers as well.

But yeah, for meta, I think today and, and kind of into the next year, they're in a really good spot just lastly, Josh, while we have you for investors this morning trying to kind of wade through the digital advertising thesis or theme within their own portfolio is meta.Uh certainly it's a strong buy uh for us.Uh That was certainly a investor concern coming in.But overall retail uh ended up very strong, that's probably the most important vertical.

And oh, by the way, that also helped that little NVIDIA rally that we saw today, uh kind of a knock on effect.One of the other things worth pointing out is that Microsoft made sure to let people know that they're going to continue to spend on going forward again.But that in and of itself, that statement could have also helped a MD because AM D's chips are what helped power or at least partially AM D's chips are what helped Power Microsoft's Azure and A I capabilities.

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