Tim Stenovec

Are analysts more bullish on NVIDIA, or are they more bullish when it comes to Alphabet?

Yeah, Jay Goldberg over at Seaport Research.

That lonely NVIDIA bear, but he's sticking by his call.

Bloomberg's Carmen Reinecke joining us.

Happy holidays, Carmen.

Appreciate you joining us today.

Hey, let's get more on the market movements with Angelo Zeno, Senior Equity Analyst at CFRA Research.

Angelo, what do you make of this sort of race between Alphabet and NVIDIA that we've seen play out over the last couple of days?

The narrative shift that, hey, wait a second, Alphabet with a 10-year-old product might actually have something that could compete with NVIDIA's GPUs.

Do you buy

Well, it makes me think of the incredible and enviable margins that NVIDIA has in its data center business.

And I'm wondering, okay, well, even if NVIDIA still becomes and remains the clear market leader, does it put margin pressure on the company?

Does the company have to come out and say, okay, well, we're not going to charge as much for these GPUs because they're potentially, at least for some customers, there may be another option out there.

Does it put margin pressure on them?

Okay, so in terms of not being concerned in the near term, that makes sense.

What about the other side of the coin, which is the opportunity that it presents for Alphabet?

Can they ramp up production of these?

Can they actually get these to customers quickly who may want them?

Angelo, if we were having a conversation last week, we'd probably be talking about, we'd probably started the conversation with equity valuations.

And I'm just wondering how you're looking at valuations right now where there's been some talk about, okay, things are looking a little bit bubbly right now.