Jon Quast

I think this is really Google's advantage here.

I think that the proof of that, Lou, is just how quickly, for example, Gemini is gaining market share right now.

This company launched Bard.

Does anyone remember Bard?

That was a stumbling right out of the gate.

Yeah, for sure.

But how quickly Google has been able to recover and take market share because it does have the advantages of distribution, vertical integration.

Now, OpenAI is making deals to try to better compete, but Google just has such an amazing amount of muscle that it can flex here.

I think it's a value.

I'm so glad you brought this to the table, Travis.

I don't normally look at Adobe, so I wasn't really familiar with the numbers at the moment.

But as you point out, it's down a lot.

Trading at 13X its free cash flow, and you look at some of the things going on with Adobe's business.

Gross margin is at an all-time high.

That's a strong signal.

We also have double-digit revenue growth.

Granted, it's just a hair north of 10%, but that's still double digits at this scale.

The share count is down because, as I mentioned, the free cash flow, and it does have things to reward shareholders.

I think this is a value stock right here today.

Yeah, I think that's a really good way to put it, Lou.