Raymond James Investment Management's Matt Orton says it's one of 'two big long-term winners' in artificial intelligence and is underappreciated in that area.
Tech giant Alphabet is "the cheapest" of all the mega-cap names, according to Matt Orton, chief market strategist at Raymond James Investment Management. With the U.S. consumer "holding up well," its ad-driven revenues are "incredibly strong," he told CNBC's " Street Signs Asia " on Monday.
And I think from the feedback I've received is a better product than anything that's on the market." Alphabet versus Microsoft Alphabet and Microsoft will be the two long-term winners in AI, according to Orton. He said Microsoft is particularly exciting because of its strong dominance in the cloud space, noting that its Azure business has "by far the largest market share" after AWS.
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