NEW YORK (TheStreet) --Both Alphabet (GOOGL) - Get Report and Amazon.com (AMZN) will release 2016 third-quarter earnings results after the market close on Thursday. Paul Meeks has covered the tech sector since 1992 as either an analyst or manager on Wall Street discussed his expectations for the Internet giants.
"When I take a look at Alphabet over time, as you've seen with two other stocks that are jumping on the cloud, Microsoft (MSFT) and Amazon, the dialogue about the company is going to go to what kind of traction they have in their cloud space," Meeks said during Monday afternoon's "Power Lunch" on CNBC. He reiterated the same cloud-centered message when discussing his expectations for when Amazon reports as well.
"On the Amazon side, does Amazon Web Services (AWS) continue grow at such a rate. Microsoft announced their cloud business the other day and are now saying they are on an annualized revenue run rate of over $13 billion. So Amazon is going to have to print that number and then some," Meeks noted.
Shares of both Amazon.com and Alphabet were moving higher in late afternoon trading on Monday.
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