---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42826486.md"
description: "[Bullish] Core Logic: The market's biggest misjudgment regarding Google currently lies in underestimating the reinforcing effect of AI on its search moat. This earnings report not only validates the profit release from cloud business but also serves as a key milestone for verifying Gemini's implementation in the B2B sector. While everyone is still worried about AI diverting advertising traffic, Google has actually completed its transformation from "selling traffic" to "selling intelligent solutions." The valuation restructuring brought by this upgrade in business model is far more important than short-term fluctuations in capital expenditures. As long as the logical closed loop of AI empowering search is established, the current price represents a golden pit, and we firmly believe in the long-term value 回归 (return). @Hot Topic Master"
datetime: "2026-07-21T10:56:54.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42826486.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42826486.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42826486.md)
author: "[我要擦皮鞋](https://longbridge.com/en/profiles/21065281.md)"
---

# [Bullish] Core Logic: The market's biggest mis…


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