After sinking 39% in 2022, (NASDAQ: GOOGL) (NASDAQ: GOOG) shares rewarded investors last year, rising an impressive 58%. This gain exceeded what the Nasdaq Composite Index was able to produce. There is certainly a sense of renewed optimism when it comes to not only this tech giant, but its peers as well.
So, is this FAANG stock a buy right now? Let's consider some key points to come to an informed conclusion about Alphabet.
In 2022, amid rising interest rates and inflationary pressures, the digital advertising market took a hit. From a marketing executive's perspective, why spend to target consumers when they have less to spend on discretionary items? This led to softer reported growth from Alphabet, particularly when compared to consistent double-digit top-line gains in previous years.
Source Fool.com