Welcome to Ok Computer. I'm Dan Nathan. I am joined by Deirdre Brosa. She is the host of

CNBC's Tech Check. Debo. Welcome back to the pod. Hello. I'm happy to be here once again.

From the North, the Great North. The Great White North. We appreciate it. We know that you are

on vacation and it's were like 90% through SMP 500 earnings. So I thought you and I take the

pulse of the public markets here, get a sense for what expectations were, what the sort of

sentiment is coming out of it. Also, after Demo and I are done, I do the same thing in the private

markets with Rick Heitzman. He is the co-founder and managing partner

at First Mark Capital. So stick around for that conversation. Let's talk a little bit. We're

recording this Tuesday afternoon into the close here. It feels like a very different mood than a few

weeks ago if we want to focus on some of the mega cap tech stocks that you and I had been previewing into their Q2 prints and getting a sense for what we thought

the guidance might be and how the stocks, given the rallies that most of them had, how they might

trade, even if they put up good quarters in guidance. And listen, just easily taking stock,

Microsoft and Apple are down about 10%

from last month's all-time highs. There were new all-time highs there. But then there was really

good results out of Alphabet, out of Amazon, out of meta. All three of those are trading

particularly well. Let's start with the mega-caps because that really, in my opinion, I think at least

if we want to focus on what happened with Microsoft, the fever has broken a little bit. And maybe

that is the result of high expectations and the bar. For them to jump over it was going to have

to be a big beat and raise. Yeah, maybe it's a good thing, right? Like you said, they're not actually all that far from their all-time high.

So if this market rally is broadening a little bit, and I mean, you could even argue,

Microsoft isn't even down enough for all the hype to come out.

It's basically investors just saying that, okay, we're going to wait a little longer for

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