From a valuation standpoint, Alphabet is about 40% cheaper than it was the last time the stock was trading at these prices.
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Alphabet earned $1.89 per share on $84.74 billion in revenue. Consensus estimates had called for earnings of $1.84 per share on $84.19 billion in revenue. However, revenue at its Youtube advertising segment missed forecasts. $GOOG Alphabet Q2 FY24 by App Economy Insights: ā¢ Revenue +14% Y/Y to $84.7B ($0.5B beat). ā¢ Operating margin 32% (+3pp Y/Y). ā¢ EPS $1.89 ($0.04 beat). āļø Google Cloud: ā¢ Revenue +29% Y/Y to $10.3B. ā¢ Operating margin 11% (+6pp Y/Y). ā¶ļø YouTube ads +13% to $8.7B.
"AI data center racks consume significantly more power than traditional data centers with a search on ChatGPT consuming 6 to 10 times the power of a traditional search on Google" $EMR $GOOG $GOOGL $MSFT Source: The Transcript
As the tech giant builds a team to battle rivals in developing new AI models and products. According to a Financial Times analysis of hundreds of LinkedIn profiles as well as public job postings and research papers, the $2.7tn company has undertaken a hiring spree over recent years to expand its global AI and machine learning team. The iPhone maker has particularly targeted workers from Google, attracting at least 36 specialists from its rival since it poached John Giannandrea to be its top AI executive in 2018. While the majority of Appleās AI team work from offices in California and Seattle, the tech group has also expanded a significant outpost in Zurich. Professor Luc Van Gool from Swiss university ETH Zurich said Appleās acquisitions of two local AI start-ups ā virtual reality group FaceShift and image recognition company Fashwell ā led Apple to build a research laboratory, known as its āVision Labā, in the city. Source: FT