arc investment management and joins us live from new york. hey, cathy, good to see you again. >> hi, scott good to see you. thank you. >> it's been a pretty remarkable comeback for techoing to resume our leadership role? >> well, i think what the market is recognizing is that we are in the sweet spot of some s-curves here in turns of online retail 10% in the u.s., total retail. 20% in china we're in the sweet spot of the s-curve, where share gains accelerate same with mobile advertising as a percent of total advertising that's 17% again, right in the sweet spot so we expect very strong sales growth from these companies to continue there's one exception, where we're looking at amazon's move into advertising now amazon's right at point of sale. its advertising revenues last year were less than $3 billion it is aiming for google's $73 billion, and facebook's $40 billion. and it's right there at the point of sale. so it's effectively becoming another search engine. so that's the nuance we would say among the fangs. >> yeah. where do you come down on apple? >> so we like apple. we like apple very much for the longer-term story, which is more around services. we see them e