Alphabet's earnings are the most determinative moment of earnings season for whether the market will have a good or bad summer.

14:02>> I think Right. I think that's true. I think that's true. But you could get a margin call if you're borrowing against it and it falls like >> Yeah. Yeah. >> I'm just I'm just saying. >> Yeah. >> Uh well, it will be interesting to watch. That is for sure. Where are we going next? >> I agree. Okay. Uh I think Google I think Google's earnings are the key to the

14:20market. I think this is the most determinative moment of earning season for whether or not we're going to have a good summer or a bad summer in the market. The market is overly reliant on tech. We've had a little bit of a handoff over the last month. The momentum tech stocks, which I know we're going to talk about later, took a backseat, a lot of selling, a lot of

14:43profit taking. People had huge gains. They took some gains and the S&P did not fall apart. um we started buying Apple and and Alphabet instead and that sort of saved the day. We've also had performance in financials this summer, healthcare um and and and there have just been other areas of the market that have held up better. But the reality is if we're going to put on another 10 15%

15:08in the S&P from here to finish out the year as as uh powerfully as we began it, the only way that's happening is if the AI trade gets back on track. And the most important player for everyone in the AI trade that's publicly traded is Google. What do you think of the uh Alphabet? What do you think about this idea? >> I totally agree with you. Um uh we're

15:31not going to go we're not going to gain 15% or 10% from here without the hyperscalers participating. They're too big >> and their vendors and all the stocks that sell to them. The good news is there is a lot of room for catchup because these names, not Google, but a lot of these names, Microsoft, Meta's acting okay, but they've been beat to [ __ ] and they've they've lagged so

15:51dramatically. So, we need them to start going. >> Alphabet reports tomorrow night after the close. I thought it was I spent half the day thinking it was today. It's >> tomorrow after the close. So, we have a preview for you guys. Um, and I wanted to uh quote Mark Mahaney, one of my favorite tech analysts at Evercore ISI. He talks about five specific things to look for. I'm not going to like go