3Q23 Earnings Updates: Part One – GOOG/GOOGL, TMUS, META, IBM, and VICI

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Alphabet (GOOG/GOOGL): GOOGL reported mixed results for 3Q23.  The two dominant businesses, Search and YouTube, had better-than-expected revenue growth as advertising accelerated ahead of high expectations.  On the downside, Cloud revenue grew more slowly than expected, up 22%, with management alluding to cloud spending optimization that has previously tripped up Microsoft Azure and Amazon AWS, […]

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Market Correction and Higher Interest Rates Trigger Shift to Large Cap

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After a rough stretch for small cap stocks, Northlake’s Market Cap model shifted from mid cap to large cap.  The change was driven mostly by technical and trend indicators that took their cue from the underperformance of small cap stocks in the August and September correction.  The external indicators were less decisive, but one factor […]

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