Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Thursday, July 31st, and I'm your host, Kim Khan. Our top story so far.

The AI trade shows no signs of slowing down after results from Microsoft and Meta.

There are some moments that will be remembered in the market for many years,

Webbush analyst and tech Uber Bowl Dan Ives said.

Last night was one of them.

These massive results seen by Microsoft and Meta further validate our AI Revolution

bull thesis into the next few years.

Microsoft Sword passed $4 trillion in market valuation for the first time

as it opened this morning. It's the second company to join the exclusive club along with

Nvidia. Microsoft shares are up more than 20% this year. Ives hailed a slam dunk quarter for the

company with eye-popping cloud and AI strength. Microsoft is just stating its next phase of monetization on the AI front,

and more enterprises are accelerating their AI budgets

and strategic footprint with Redmond into full year 2026,

with a street not fully appreciating the growth story, he said.

With meta, bullish analysts got more bullish

after the company delivered more of everything in its results.

Morgan Stanley analyst Brian Noak said,

bottom line, we are left with higher near-term, one, two and three-year, profitability,

and a growing list of long-term optionalities for further core growth, engagement, and

or monetization improvements, content creation tools, meta-a-I, search, business agents, devices, etc., or super-intelligence

gen AI to drive even longer growth. Noak boosted its price target to $850 from $750 with a bullcase of $1,100, where

...