What CNBC's 'Fast Money' traders think of Alphabet's Q4 earnings report

Summary

CNBC's Fast Money team discusses Alphabet's Q4 earnings. The panel debates whether the strong quarter and higher capex guide justify the stock's valuation after a big run. Karen Finerman is bullish on Alphabet's PEG, cloud growth, search, margins, and integrated stack, while Guy Adami, Carter Braxton Worth, and Karen Finerman also express caution on valuation and recommend trimming or selling calls. The team also touches on Apple as a defensive beneficiary and AI hardware as a winner from higher capex.

• Alphabet reported a strong quarter with cloud growth of 47% and search revenue beating a high bar.
• Karen Finerman sees an attractive PEG and a vertically integrated Alphabet, and wonders how high the stock would be if capex had come in line.
• Tim Seymour argues higher capex will strengthen monetization of Alphabet's business parts.
• Guy Adami warns Alphabet's ~31x valuation is priced to perfection, though he is not saying to get out.
• Carter Braxton Worth says the stock has come too far and would sell calls or trim longs.
• Karen Finerman has been selling calls and trimming Alphabet because the position has become oversize.
• Karen Finerman also flags Apple as a defensive beneficiary of the Gemini/Apple partnership talk.
• The team sees Alphabet's higher capex guide as good for AI hardware, while software is a separate story.