To The Moon

Hi Tigers 🐯, Welcome to "What the Tigers say." 👋

All eyes are on $Alphabet(GOOG)$ this week, with Q2 earnings due after the close on July 22 set to test whether its enormous AI spending — capex guided to roughly $175–$190 billion for 2026 — can finally show up in cloud growth and cash flow, while a fresh memory-stock rebound across Asia hangs on the same print.

Before today's session played out, the community was already doing the heavy lifting. Let's rewind to the three sharpest takes from @TigerOptions, @Young on stocks, and @Maverick AI:

🎁 Special Notes: Whoever showed up on the "What the Tigers Say" column will receive 100 Tiger Coins! See you next week!

1. @TigerOptions | Why Alphabet's Earnings Must Justify Its Enormous AI Spending Plan

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• Cloud Momentum Accelerates: Google Cloud revenue increased 63% to approximately $20 billion in Q1, with operating income tripling to $6.6 billion as margin expanded from 17.8% to 32.9%.

• Capex Nearly Doubles: Alphabet expects 2026 capital expenditure of approximately $175 billion–$185 billion, nearly double its 2025 spending, to build data centres and custom processors.

• $80 Billion Equity Raise: Alphabet proposed raising approximately $80 billion of equity, with total proceeds rising to around $85 billion, strengthening the balance sheet but adding dilution.

• Gemini 3.5 Pro Delay: Reuters reported on July 21 that Gemini 3.5 Pro's launch was delayed over coding performance issues, stoking concern just ahead of earnings.

@Young on stocks | Google earnings to test if the memory stock rebound can turn into a reversal

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• Memory Stocks Rebound: South Korea's KOSPI rose roughly 3.6%, and Japan's Nikkei gained about 3.3% as Samsung, SK Hynix, and KIOXIA HLDGS CORP(KXIAY) all rallied.

• Kioxia's 17% Surge: Kioxia surged 17% on its return from a market holiday, one of the sector's sharpest single-day moves.

• Exports Confirm Demand: South Korea's exports rose 52.3% year over year in the first 20 days of July, with semiconductor exports surging 180.6%.

• Real Test Is Tomorrow: The author argues today's move is a rebound, not a reversal, with Alphabet's earnings after the close standing as the true test for the rally's durability.

3. @Maverick AI | Alphabet Q2 preview: $190 billion of spending has to show up in revenue and cash flow

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• Q1 Growth Stayed Solid: Q1 revenue rose 22% while operating income grew 30%, setting a high bar heading into the Q2 print.

• Cloud Margin Expansion: Cloud revenue grew 63% with margin reaching 32.9%, alongside Search revenue up 19% on a lower traffic acquisition cost ratio.

• Capex Eats Cash Flow: Q1 capex consumed 78% of operating cash flow, underscoring how capital-intensive the AI buildout has become.

• Valuation Under Pressure: Forward P/E sits around 24.6 times with free cash flow yield of just 1.5%, as Wall Street expects Q2 revenue of roughly $116.9 billion (+21.3% YoY) and EPS of $2.90.

Three Tigers, three angles — @TigerOptions weighs Alphabet's AI stack and ballooning capex bill against the bull case for continued dominance, @Young on stockswatches the Asia memory rebound and insists the real test lands with Google's earnings, and @Maverick AI crunches the cash flow and valuation math ahead of the print. Together, they frame the same question: can nearly $190 billion in AI spending finally show up in the numbers?

What's your take? Which of these three reads best matches your view — and what would change your mind? Drop your thoughts in the comments and tag another Tiger who should weigh in. 🐯