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GOOG Jun 2024 62.500 put
| Previous close | 0.0300 |
| Open | 0.0300 |
| Bid | 0.0000 |
| Ask | 0.0700 |
| Strike | 62.50 |
| Expiry date | 2024-06-21 |
| Day's range | 0.0300 - 0.0300 |
| Contract range | N/A |
| Volume | |
| Open interest | 3.88k |
- Yahoo Finance Video
AI won't have 'huge' effect on Big Tech earnings: Strategist
This week will see a flurry of earnings reports from prominent Big Tech names, including Meta (META), Alphabet (GOOG, GOOGL), and Microsoft (MSFT). Synovus Trust Senior Portfolio Manager Dan Morgan and Creative Strategies CEO and Principal Strategist Ben Bajarin joined Market Domination to discuss the potential impact of artificial intelligence on Big Tech earnings. Bajarin highlights two main concerns: "Who's getting the most beneficiary lift from AI stocks?" and "Do we have outsized expectations of AI growth?" However, he believes tech earnings will see strong growth due to AI infrastructure investments. Bajarin expresses worry about potential volatility stemming from "the bubble-ish cycle of AI." He also notes that costs associated with AI innovation could be a factor affecting earnings. Morgan emphasizes that if investors look beyond the AI hype, Big Tech is "looking at very strong growth" across the core business models. While companies like AMD (AMD) and Nvidia (NVDA) do have substantial profit growth fueled by AI, Morgan notes that for earnings from names like Microsoft and Meta there won't be "a huge AI effect, in terms of like 30% growth coming from AI, but their core businesses are very strong." He adds that if the Federal Reserve were to refrain from cutting rates and inflation remains elevated, these tech giants "are delivering growth regardless of what the Fed is doing." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
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