We expect the market to have a muted short-term reaction to Alphabet's Q2'25 earnings report based upon our first read/analysis of the results. In addition, the strong recent stock outperformance into this earnings report when coupled with the lesser-known variables around a search antitrust remedy decision in the coming weeks (as a likely timetable) might act as a cap on the stock short-term. Beyond that short-term dynamic, we see a lot of reasons to maintain a constructive long-term view toward Alphabet s ...