AAPL - Third Point - Alphabet: Substantial Distribution And Technology Advantage Over Competitors

2024-05-02 09:10:00 ET

Summary

• During Q1, Third Point made a substantial investment in Alphabet.
• We have owned Alphabet in the past and have long admired its exceptional business model and its proven ability to maintain a leading position across an array of preeminent products.
• We believe the moment when Gemini takes a seat at the economic table is approaching.
• We are encouraged by improvements evident in the most recent quarter.

The following segment was excerpted from this fund letter.

Alphabet Inc. ( GOOG , GOOGL )

During Q1, the funds made a substantial investment in Alphabet as the market worried about the impact of LLMs, personal assistants, and answer engines such as Perplexity AI on Google Search. We have owned Alphabet in the past and have long admired its exceptional business model and its proven ability to maintain a leading position across an array of preeminent products such as Search, Gmail, Android, GCP, and YouTube....

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