Wedbush’s Dan Ives thinks that a culmination of the AI revolution and improving ad spending will make the March quarter “one to watch” for companies in the technology sector. What Happened: Ives expressed optimism about the prospects of big technology companies in the March 2024 quarter. “I think it’s going to be one for the ages in terms of digital advertising,” Ives explained, underscoring that Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google is his top pick for this reason. Ives thinks that the spending environment in the tech industry is improving. This will help us see the next part of the “AI revolution,” according to Ives. “Big Tech earnings should be robust for 1Q and an important moment to put fuel into this tech rally with earnings/growth moving higher,” Ives said in an interview with CNBC. Ives has been consistent in his belief that the next phase of the AI revolution is the demand of AI and cloud […]

Alphabet (GOOG, GOOGL) has been speaking to its advisers about possibly making an offer for HubSpot (HUBS), Reuters reported Thursday, citing people familiar with the matter. The technology giant had a meeting with Morgan Stanley’s (MS) investment bankers recently to discuss how much it should offer and whether a transaction would be cleared by regulators, the report said, citing the sources. There is no guarantee that Alphabet will submit a proposal to HubSpot and there is no certainty it will do so, the report added. A HubSpot spokesperson told MT Newswires in an emailed response that the company “does not comment on rumors or speculation”, while Alphabet and Morgan Stanley did not respond. Alphabet’s stock was slightly down, while HubSpot’s shares rose 2% in recent Friday premarket activity.

Alphabet’s (GOOG) reported interest in HubSpot (HUBS) is yet another reminder that the provider of cloud-based customer relationship management platform is “an asset to own,” Macquarie Capital said in a note e-mailed Friday. Reuters recently reported that the parent company of online search giant Google was considering a bid for HubSpot. “The mere mention of interest (in HubSpot) should remind investors of the reasons we have been and continue to be long-term buyers of this high-quality, best-in-class asset,” Macquarie analysts, including Frederick Havemeyer, said. With HubSpot’s current market cap likely at more than $33 billion, the “sheer size” of a potential deal is expected to warrant at least a second request from the US Department of Justice, the analysts said, citing sources familiar with regulatory norms. HubSpot shares were up more than 3% in recent trading, while Alphabet was up 1.6%.