Hot Picks: Three U.S. tech stocks positioned for AI growth

Summary

• Renewed U.S. tech buying has shifted focus back to business performance & valuations following strong Q3 earnings in online advertising & e-commerce.
• Airbnb is positioned as an AI-native company with plans to launch an AI travel agent in 2027 that will book accommodations, transport, groceries & activities.
• Alphabet faces monetization challenges as Google's transition to AI-powered search decelerates revenue growth despite record query activity.
• Google's competitive edge in cloud services relies on vertical integration, including proprietary TPUs, data centres, distribution networks & AI models.
• Amazon is identified as the top pick due to strong retail execution, improving profitability & AWS revenue growth expectations exceeding 40% in 2027 & 2028.
• Access to computing capacity is a critical competitive factor for cloud providers, with Google & Amazon highlighted as best positioned for capacity expansion.