Google-parent Alphabet (GOOG, GOOGL) stock tumbled earlier this week after reporting slower-than-expected revenue growth for its cloud division. RBC Capital Markets Internet Analyst Brad Erickson spoke with Yahoo Finance anchor Rachelle Akuffo to discuss cloud technology’s current influence on Big Tech earnings, particularly in Meta (META) as well.
“They have covered a lot more ground with money they have spent than people realized, they’re not going to have to spend as much as people thought in 2024,” Erickson says on Meta’s building out of its facilities and AI infrastructure.
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