Sanmeet Deo

You know, something like a Duolingo I could imagine is gonna spend more money on AI.

Something, you know, like a Toast would probably spend more on AI.

So lots of other non-big tech companies are using AI in all aspects of their business, not just their core businesses.

So I definitely see this increasing across the board.

Yeah, you know, people tend to forget about Apple because, oh, they're kind of behind in the AI race, but they're still a dominant tech company.

You know, a lot of analysts across the street are expecting a major super cycle, if you may, or a major upgrade cycle with the iPhone 17 coming out, fueled by pent-up demand and kind of new AI features that are still trickling in and getting better.

We could see iPhone revenue potentially exceeding $70 billion.

You know, their services business,

continue to uh to move you know your app store your icloud your apple tv plus all those are doing great you know they have such a built-in install base of users of their iphone that these services businesses just are always added to each iphone user's arsenal there so you know we'll look to see some more ai strategy updates with google and gemini powering their their siri and and whatnot and

You know, with China, China remains a little bit of a battleground for Apple.

You know, while it's kind of recently claimed the top spot in the Chinese smartphone market, we're going to want to see if revenue growth is still sustainable against a lot of domestic competitors in that market.

What are your thoughts about Meta heading into this report?

You know, Meta's underperforming the market by about 16 and a half percent over the last year.

If Apple's bronze, then Meta might be in the fourth place, although they're spending tons and tons of money on AI.

And, you know, some of the things to watch are going to be, obviously, their CapEx spend.

You know, they had guided for full year, in quarter three, they guided for full year CapEx, 2025 CapEx, to be 70 to 72 billion.

Investors really want to see where that lands.

Also to see if there's any sort of revenue bump

coming from all this spending in AI.

Now we have to parse it out because, you know, Meta has a huge ad business and that's the meat and potatoes of their business.