Michael Monaghan will watch for the ongoing health of the AI trade in company earnings like Dell Technologies (DELL), Oracle (ORCL), and ZScaler (ZS). Starting with Dell, he discusses why the company's AI server revenue surge is sustainable long-term. Michael adds that Oracle will show substantial ROI so long as the AI data center buildout continues as planned. Cybersecurity's growing needs in AI acceleration is one key factor he sees lifting ZScaler.