5 Things to Know Before the Stock Market Opens on Thursday

Impact · against what's priced in

The news is moderately bullish for GOOGL and MU as it provides evidence for growth trajectories the market had previously declined to pay for. Specifically, Google's new AI model supports the cloud acceleration the price had discounted, and Micron's results reinforce the potential for a structural earnings reset.

GOOGL+0.40

Challenges what's priced in

The price assumes

Cloud growth sustaining at or above 40%

The price declines cloud growth sustaining above 40% (currently 35.8%); the announcement of a new AI model is a direct catalyst that could drive the acceleration into that declined range.

What GOOGL's price assumes · Sep 2

• earnings
• semiconductors
• ai
• MU
• GOOGL
• stock futures
• treasury yields

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