Alphabet (GOOGL) has taken a step back recently, says Dave Alison, but you need to zoom out to see how strong the company has become when it comes to its stock and balance sheet. He'll have his eyes on earnings and ways the Mag 7 giant will expand its AI capabilities, especially through cloud and Google Gemini. He explains how Alphabet's tech stack paves the way for stable growth and argues growing competition in LLMs and compute set a bullish foundation for the company.