Tech Stocks Surge as Google and Amazon Show Resilience Despite Headwinds
• S&P 500 and Nasdaq indexes have surged over 20% and 40% respectively in 2023, signaling start of a bull market
• Alphabet stock price dropped recently despite beating Q4 estimates due to ad revenue miss, but its dominance in search and AI innovations make it an attractive long-term buy
• Google Cloud continues strong growth and profitability even amidst cost optimization by enterprises
• Amazon benefited from regional distribution network, Prime member purchase frequency and AWS leadership in cloud infrastructure
• Amazon Web Services growth trajectory continues with new AI capabilities like Amazon Bedrock and compute instances for customers' AI models