Wall Street sometimes gets so latched on to one metric in a quarterly report that it fails to examine the report as a whole. This results in a falling stock price. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) experienced this after its earnings report, as its stock is down more than 10% since then.

This looks like a buying opportunity for one of the world's most prominent companies. If you're wondering why I have a contrarian view to the market and why now is a great time to take action and buy Alphabet's stock, read on.

In the crosshairs for analysts was Google Cloud revenue. It missed expectations by only growing by 22%. In a vacuum, that would seem like a decent growth rate. However, Google Cloud is in third place in the overall cloud computing market share, behind Amazon Web Services (AWS) and Microsoft Azure.

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Source Fool.com