I'm John Ford. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

Good Wednesday morning. Welcome to Tech Check. I'm Deer Jorboza with John Ford. Today, a big miss for Alphabet, earning a billion dollars less than it did last year. Those YouTube results pretty dismal. Then there's Microsoft. Cloud revenue, a huge driver behind that stock surge this morning. Microsoft is up more than 5% right now. Alphabet is weaker by about nearly 4%. All of these numbers, of course, ahead of more results from names like Meta Qualcomm. Many more, John, it's a busy week. Yeah, so I guess the question is, which one do you pay more attention to as an investor looking to survive and thrive in the rest of this earnings week?

The alphabet results or the Microsoft results, D.

And I think, yeah, I've got concerns.

I think for the market overall, Alphabet's results probably mean more.

And here's my thinking.

Yeah, in a way, part of me is still traumatized from the dot-com bust of 20%. Overall, alphabets results probably mean more. And here's my thinking.

Yeah, in a way, part of me is still traumatized from the dot-com bust of 20-plus years ago.

But what we saw happen then was that marketing spend was a canary in the coal mine. And the consumer sort of got hit first, and then you had kind of this trickle through to business.

So it makes sense that Microsoft, which has a strong enterprise business, you know, number two in cloud,

is going to have some strong results, a very diversified business.

But if you look at their more personal computing group that's exposed to consumer PCs,

if you look at what happened with Xbox, if you look even at marketing within LinkedIn,

those areas were weak,

sort of lining up with the weakness in YouTube.

And there are reads through to what you're gonna see,

perhaps in consumer demand and in marketing activity,

and so many of these other tech names

that depend on that.

So I think that's where you've got to be

cautious. So then which one's the most, the more important report then, do you think, John,

or do you think it's that digital marketing spend read through on both those names?

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