Will Alphabet Be a $2 Trillion Stock by 2024?
Although Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) briefly eclipsed the $2 trillion threshold in late 2021, it hasn't returned to that level since. For Alphabet to return to that exclusive club by next year, it would need to return 18%. While that's not a high threshold, Alphabet has a few hurdles to overcome before achieving and maintaining a $2 trillion valuation.
So, can Alphabet do it by 2024? Or will it be left outside the $2 trillion club? Let's find out.
Although some of Alphabet's business segments such as cloud computing get a lot of publicity, 78% of revenue came from advertising sources -- but this segment isn't growing quickly. Thanks to businesses tightening their advertising budgets, Alphabet hasn't seen meaningful growth in the segment. In the second quarter of 2023, revenue was only up 7% year over year, with advertising's 3% growth dragging down the total. However, this is likely temporary.
Source Fool.com
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