Big Tech has been suffering lately as investors question massive AI spending…

And this week’s pick hasn’t been spared. The tech giant is down more than 20% from recent highs.

But here’s what the market is missing…

Management has a ton of flexibility when it comes to spending… and it’s already taken significant cost-cutting measures (something that the market has historically rewarded)…

As the company heads into earnings, any positive news around improved efficiency should send the stock surging to new all-time highs.