Daniel Pronk

"And as we saw with Meta with it having nearly 98% of its revenue coming just from advertising, I believe that that is why it has always sold for a discount relative to its other hyperscaler peers. And I think that it's justified and it will continue to trade at a forever discount."

"Microsoft's revenue is also very diverse and I do view Microsoft's business as kind of like a tech ETF at this point. ... So Microsoft has a lot of different and diverse highly profitable revenue streams and I also believe that this is one of the main reasons why it has historically sold for a premium relative to its other hyperscaler peers."

"Amazon's business and revenue streams are even more diverse than Google. And this is another reason why I believe that Amazon's underlying business is less risky than Google too. It is a very diversified business and a lot of these business segments are extremely profitable, growing very well and also accelerating."

"97.5% of Meta's revenue comes from its advertising business. And this is what I meant earlier on in the video when I said that Meta's business is the most risky in my opinion."

"Microsoft on more optimistic expectations, at least in my opinion, results in a much lower compounded annual growth rate over the next 3 years."

"I get a 22.8% an 8% compounded annual growth rate to Meta share price over the next 3 years, a fair value of 827 bucks, and a future share price of roughly $1,100. So, even with some pretty modest growth, and a relatively low price multiple, I think that Meta share price could produce some stellar returns over the next few years as well."

"So, if Amazon can simply continue to grow its operating cash flows by 20% annually and get back to a 20 price to operating cash flow, then the stock could produce stellar returns over the next 3 years."

"Amazon's median price to operating cash flow since 2021 has been about 14.6 and it's currently selling below that at 13.7. So, Amazon is below its historical average and median prices."

"Microsoft is also trading well below its historical averages and medians."

"Meta is trading significantly below both of its average and median historical price multiples."

"Meta is trading for the lowest price to operating cash flow by far sitting at a forward price to operating cash flow of only 8.6."

"Amazon's operating margin is at an all-time high of 12.08%."

"Meta's operating margin has declined down to 39%. And it has been consistently declining for the past year."

"Microsoft's free cash flow margin is still the highest at 20%, but as we saw this is because they are the company spending the least aggressively and this is also resulting in Microsoft Azure not seeing as much of an acceleration as Google and Amazon."

"Meta actually has the highest operating cash flow margin sitting at 57%."

"Microsoft's operating cash flow margin is growing rapidly up to 55%."

"Amazon's operating cash flow margin is actually at an all-time high of 20.81%."

"Meta's operating cash flow growth rates did decelerate slightly in the most recent quarter, whereas Amazon, Google, and Microsoft all saw their operating cash flows actually accelerate in the most recent quarter. This means that Meta is kind of the standout of the most recent quarter, especially since its revenue growth rate was actually the highest out of the group, which does suggest that Meta's margins are also seeing compression."

"since 2019 Amazon has grown its operating cash flow the most at nearly 350%."

"since 2019, Meta has grown its revenue the most at 243%."

"Microsoft is the company growing its capital expenditures the least. And I also believe that this is why Microsoft Azure is not seeing as much revenue acceleration."

"And the winner for net revenue added is actually Amazon. ... But AWS is actually still adding the most incremental revenue on a quarterly basis."

"In fact, Microsoft is the one cloud business that isn't seeing as much acceleration."

"AWS is also seeing strong acceleration with 37% year-over-year revenue growth in the most recent quarter, and it's also catching up to Microsoft Azure's growth rates despite it being the much larger cloud business."

"Amazon is growing the most consistently. Google and Meta both saw their advertising revenues dip in 2022 and Amazon grew consistently right through it. So, it seems like Amazon has the most durable advertising business."

"Meta has been adding the most net revenue for the past three quarters. And over the past couple of quarters, Meta has really been the strongest company in terms of adding advertising revenue."

"also share why I think that Microsoft is fairly valued"

"If you have been watching my channel for some time, then you probably already know that I own Amazon and Meta, which is kind of a giveaway as to which ones I think are looking the most attractive in the market today."

"If you have been watching my channel for some time, then you probably already know that I own Amazon and Meta, which is kind of a giveaway as to which ones I think are looking the most attractive in the market today."

"I believe that the market is going to continue going higher and I also believe that Brookfield Asset Management, the data center construction stocks that I own, even the construction industry as a whole is going to continue going higher because they are making it clear this buildout is not slowing down."