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and microsoft both unveiling quarterly report cards beating expectations. shares in alphabet jumping after hours as the company announced that quarterly revenue rose to $69 billion. meanwhile, microsoft a boost in extended trading with quarterly revenue mainly driven by growth in its clad competing businesses. dan ives is senior equity analyst at wentworth securities and says these are welcome news for the tech sector. some sunshine in a dark environment. this reflects the muscles moment for big tech in terms of what we saw from alphabet and microsoft, both on cloud and digital advertising. markets will be focused on these results tomorrow. the hottest thing at the moment appears to be ai, but is google s market share at risk? this was a sigh of relief in terms of what we see on the ai front in terms of bard and ultimately focused on what google is trying to do. there is definitely a game of thrones going on in al. microsoft is leading, but google has all hands on de ....
Of swirling macro, and this is a big sigh of relief for investors in terms of what we see in big tech. what about job cuts? is the pain over? look, i think probably 70% or 80% of the cuts are over but these tech companies were spending like 80s rock stars. they have cut costs, they have cut cost significantly and we see that ahead. investors want to see them rip the band aid off and i think it is put a bottom on these stocks, including amazon, meta and others. shares in first republic have fallen 50% as investors question its future. the falls came a day after the bank said customers have pulled more than $100 billion from their accounts during last month s banking panic. first republic had been seen as one of the bank s most at risk of failure after a series of bank collapses raised fears of a crisis in the sector. and the banking crisis has been one of several economic challenges faced by the us presidentjoe biden since taking office, ....