Alphabet's Search Scare Is A Buying Chance - Amazon's Cash Problem Isn't

I reiterate a Buy on Alphabet, viewing the post-Q3 pullback as an overreaction to AI Mode monetization concerns. GOOG's Search growth deceleration is real but manageable, with ad yield levers and strong Cloud economics offsetting short-term drag. Amazon is upgraded from Sell to Hold as AWS growth and margin proof are solid, but funding the capex ramp remains a material risk.