00:00I want to start off first with Microsoft here. Those shares are down, down about 5%.
00:05Some concerns about their costs. Also, I guess some concerns here about some of the obligations that they've entered in.
00:10I know you only had a few minutes to sort of look at these earnings here, but was there anything that gave you concern?
00:15Well, I think the Azure number is maybe a tiny bit light of expectation.
00:20But the important thing here is they don't provide guidance until the earnings call.
00:25So I think you have to wait until what they say on the call. They'll guide Azure.
00:30For the March quarter, I think the guidance there should be solid, and hopefully they'll...
00:35attribute maybe the slightly slower December quarter to supply constraints.
00:40So I still think this remains to be seen how the market...
00:45to this print.
00:46Well, let's talk about some of Microsoft's products here. You think about 360...
00:5065 pilot, there's been a lot of concern about some of the new releases coming from Anthropoc.
00:55For example, you think about Claude Cowork. You take a look at some of the reviews from earlier...
01:00this month, they're absolutely glowing. I mean, what does that long-term mean for a name...
01:05potentially like Microsoft? Well, there's a lot of debate right now in the market about...
01:10you know, these incumbent software companies, are they going to be disrupted?
01:15by, you know, new AI upstarts and even by the model companies themselves, or are they going to become...
01:20distributors of, you know, AI model technology. And I think...
01:25I think it's going to be really interesting to hear what Microsoft has to say about that tonight. I think Microsoft...
01:30is well-positioned to, you know, distribute AI technology...
01:35through their productivity apps. And I think on CoPilot, you know, there's...
01:40the sentiment there in the market is very negative. I think that's going a little bit better than people give it...
01:45credit for. And a lot of times, historically, it's taken Microsoft some time to figure these things...
01:50out, but they have the distribution in the end. They have a lot of built-in advantages. And a lot of times...
01:55they do end up coming out on top.
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