$Alphabet(GOOGL)$ $Alphabet(GOOG)$ On this week's earnings call, investors expect proof of sustained Cloud growth and margin expansion, backlog conversion into high-quality revenue, evidence that AI features are increasing search/YouTube monetization without cannibalizing it, and an eventual return to positive and growing free cash flow when the heavy build phase moderates. It's up to Sundar Pichai to deliver on all of that, and he has a credible shot.
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