$GOOGL

Apple reported record Q3 revenue of $114.5B, with iPhone revenue up 17% to $57.6B and Services up 10% to $31.6B. Alphabet spent $51.36B on capex, resulting in negative free cash flow of $9.07B. Apple uses partners for AI, avoiding heavy capital expenditure, while Alphabet invests heavily in cloud and TPUs. Apple's P/E is 43, compared to Alphabet's 13.

State Street Communication Services Select Sector SPDR ETF (XLC) sold $175.5 million in stocks on Nov. 2, including $38.1 million of Meta (META), $19.4 million of Alphabet Class A (GOOGL), and $15.7 million of Alphabet Class C (GOOG). XLC holds 22 stocks, with top holdings including META (21.73%), GOOGL (11.06%), and GOOG (8.93%).

SPDR Portfolio S&P 500 Growth ETF (SPYG) increased holdings in all 152 of its positions, with $207.4M in net buying. Top purchases included NVIDIA (NVDA) at $29.4M, Microsoft (MSFT) at $22.6M, and Apple (AAPL) at $14.8M. The fund's assets stand at $54.12B, with a 0.04% expense ratio and a 9.61% YTD return.

Google launched its AI-based Universal Commerce Protocol (UCP) in Canada, allowing users to shop via its Gemini chatbot. The feature processes payments through Google Pay and is available with select retailers like Lululemon and Shoppers Drug Mart. Google aims to compete with Meta and Amazon in the e-commerce space, despite recent stock declines due to weaker search revenue. Experts debate the implications for consumer choice and retailer control.

Third-quarter earnings overall beat estimates, with S&P 500 profits up 25% for the third straight quarter. Big Tech companies like Alphabet, Amazon, and Microsoft underperformed, raising concerns about AI investments. The broader market showed resilience, with value stocks outperforming growth. Alphabet and Amazon shares fell after missing revenue expectations. The Magnificent Seven's earnings growth slowed to 29%, while the rest of the S&P 500 grew 33.6%.

Alphabet (GOOGL) was upgraded to 'Strong Buy' after a Q3 selloff, despite concerns over AI monetization and rising costs. Q3 FY2026 showed 25% revenue growth and 30% operating income growth, but Search revenue slowed. GOOGL's AI ecosystem, including Cloud, has a $560.8B backlog, and the stock is valued at 18.9x 2027 EPS consensus.

Google (GOOG) has extended voluntary buyout offers to employees in multiple countries this year, aiming to control costs while increasing AI spending, according to Reuters.

Google (Alphabet) plans to invest $15 billion in Malaysia from 2027 to 2028. The funds will go towards data centers, clean energy, water security, and workforce training. The investment is expected to boost Malaysia's GDP by $1.1 billion annually and create over 37,000 jobs during construction, with operational facilities sustaining over 9,000 jobs. Google also aims to add 1 gigawatt of clean energy to the national grid.

Google reported Q3 2026 search revenue growth of 12% YoY to $63.4B, but highlighted slower growth due to lower monetization from AI Mode queries. CEO Sundar Pichai noted record-high query growth, while CBO Philipp Schindler acknowledged AI's impact on search revenue. Google is investing heavily in AI and agentic commerce to counter declining search traffic and ad revenue pressures.

Google may be testing a search bar without the AI Mode button, following a 12.6% drop in Alphabet's shares. A user reported the change, but Google has not confirmed. Alphabet's Q3 search revenue grew 12% to $63.35B, below expectations, with AI Mode searches monetizing less. The company is expanding AI Mode ads internationally. Google has frequently tested AI Mode features, and the current test's significance is unclear.