TDAQ's 17% Distribution Appeals To Me, Especially After Microsoft, Google And The Fed's Decision

Impact · against what's priced in

The article provides no new catalyst for Alphabet as its negative free cash flow is already a core component of the current valuation constraints. The mention of TDAQ's yield is a commentary on ETF strategy rather than a fundamental shift in the underlying tech equities.

GOOGL+0.00

Already priced in

The price assumes

Higher discount rates and macro uncertainty

The author's claim that negative free cash flow and high rates limit multiple expansion is already baked into a price that refuses to pay for a valuation re-rating or AI-driven margin expansion.