anurag: it could be the case.e things that we examined is, apple is buying back so much stock every year. over the last five years they reduced their share count by 23%. tom: is that a good thing? anurag: it is a good thing if you are buying at a reasonable price. they are going to spend $90 million buying back stock every year. tom: this is critical, folks. are they redux thing ibm 15 years ago? is this an equivalent? anurag: this is different. there was so much competition from ibm, company to take their share. there is no other company that can take your iphone only and replace it with something else. how much would it take you to your iphone away? jonathan: great to catch up. anurag from bloomberg intelligence. the share count of apple is down 20% over the past five years. how many people talked about the $70 billion buyback from alphabet yesterday? tom: they haven't. what is important is the implied january 1 dividend. these are big numbers, 8% sometimes. jonathan: facebook later, amazon and apple tomorrow. b

anurag: i see no logical reason they can't. you go back to buffet methodology, if the stock is selling below value, they should be buying back as much stock as they can, as much as they are financially able to. kailey: thank you so much to anurag rana and jackie davalos. coming up, we continue the conversation on tech earnings and implications. kate moore joins us next, this is bloomberg. ♪ kailey: it is a big week in big tech earnings, yesterday we got microsoft and google. later, we will have meta. back to the question of the day, what are tech earnings telling us? let's ask kate moore. kate, are we getting a clear signal yet? kate: there is not necessarily a clear signal for the entire sector, certainly not the whole market. what i will say -- this is coming not just from tech earnings, but commentary from companies across different industries. tech spending is much more resilient. the previous bloomberg contributor's richest on before me mentioned this idea that tech spending is recession proof. we are getting that informat

anurag: for microsoft it is not that big a deal. it is a bigger deal for apple and other manufacturers. it will be a big issue for them and less so for microsoft. kriti: anurag rana, always a wealth of information when it comes to microsoft. let's switch from microsoft alphabet, reporting aware first-quarter-- a rare first-quarter miss. here with us is jackie dollars. jackie, i'm curious about this alphabet story. is this the kind of a end to that monster tech growth we were seeing? none is alphabet signaling more pain ahead? jackie: it was a rare mist because alphabet typically is viewed as the steady eddie of tech stocks. even here we were able to see that they were not immune to the effects of the war in ukraine and the broader pullback in the digital ad spend that reverberated across europe and is starting to trickle down into that regional revenue which dipped compared to last quarter. questions with they had to answer was related to youtube ads. this is a bright spot for the company. it was supposed to be the next leg of growt