Google Cloud Hit a Snag, but Here's Why Alphabet Stock Is a Buy Anyway

Shares of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) were down some 10% after its third-quarter earnings update. The blame is falling on slowing growth in Google Cloud, a key driver now that Google Search and other various advertising businesses have matured.

Google Cloud now makes up 11% of total Alphabet revenue after growing 22% year over year, slower than the high-20s percentages that have been reported in past quarters.

Nevertheless, Alphabet stock has still had a sizable rebound this year, and it looks like a reasonable value again after this update in spite of a brief snag for Google Cloud.

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Source Fool.com