Alphabet (GOOG +0.41%) is on the verge of becoming the world’s largest company, says Bloomberg, while “Big Short” investor Michael Burry warns it’s “feeling like the last months of the 1999–2000 bubble.” Alphabet stock has climbed around 150% over the past 12 months, nearly twice as far as current market-cap leader Nvidia’s (NVDA +1.73%) rise.

“Alphabet holds a significant spot in almost every corner of the AI ecosystem”: Luke O’Neill at CooksonPeirce says this combined with the rest of Alphabet’s offerings “puts it in a prime position to be the biggest winner of AI.” If Nvidia hadn’t ended last week with a three-day surge, the two market caps would have been neck and neck Friday.
“Stocks are not up or down because of jobs or consumer sentiment”: Burry, meanwhile, added “They are going straight up because they have been going straight up” in a Substack post on Friday. All he could hear on financial TV and radio was “absolutely non-stop AI.”

Yet Another Record Week for Stocks

Markets hit new closing highs again last week, as semiconductor stocks soared further and Friday’s April jobs report beat hopes for the second month in a row. The 115,000 jobs added during the month was more than twice the expected 53,000. The S&P 500 gained 2.3% over the week, with the Nasdaq up 4.5%.

Futures wobble on war fears: S&P 500 futures edged down 0.1% this morning after President Trump branded Iran’s response to the latest U.S. proposals as “totally unacceptable.” WTI crude oil traded at $99.50 per barrel.
Inflation facing oil shocks: The effect of high oil prices on inflation should become clearer Tuesday with the latest Consumer Price Index expected to rise to 3.8% year over year (YoY), from 3.3% in March. We’ll learn more about wholesale inflation with Wednesday’s Producer Price Index figures.

Key Stock Advisor Earnings Coming Up

Doximity (DOCS 0.27%) – recommended by Team Rule Breakers –will close out fiscal 2025 with a Q4 update Wednesday. Speaking last week of Doximity’s medical network platform, Fool contributing analyst Dan Caplinger cautioned “Doximity got out of the gate first, it’s put together a really good platform, but can it defend itself against AI innovation?”
Klarna (KLAR 1.53%) will post Q1 earnings Thursday. Recommended by Team Hidden Gems, the global digital payments provider ended Q4 with a merchant count of 966,000 – up 42% over the prior year – after hitting $1 billion revenue in the quarter.
On Holding (ONON 1.26%), another rec from Team RB, is due to reveal its first quarter of fiscal 2026 Tuesday morning. The Swiss sportswear company saw record sales in Q4, but non-GAAP earnings per share fell – under pressure from higher costs and currency impact. Management guided for at least 23% net sales growth in 2026.

What Else to Watch This Week

Cisco (CSCO +4.79%), beating the S&P 500 by 68% since its 2024 rec in Hidden Gems, brings us Q3 figures Wednesday – following record quarterly revenue of $15.3 billion in Q2, 10% higher YoY, with non-GAAP earnings per share (EPS) up 11%.
Cellebrite (CLBT 1.96%), also an HG rec, reports Q1 Thursday, after posting a 40% YoY jump in non-GAAP EPS in Q4, on the back of an 18.2% rise in revenue. Investors should watch for the integration of Corellium, and news of the planned SCG Canada acquisition.
monday.com (MNDY 5.77%) followed a Q4 revenue jump of 25% YoY with another 24% YoY in Q1 this morning, as co-CEOs Roy Mann and Eran Zinman told us “The launch of the AI Work Platform and our shift to consumption-based pricing build directly on that momentum.” The Rule Breakers rec popped 20% in response.

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