1 Green Flag for Alphabet in 2023, and 1 Red Flag
Shares of (NASDAQ: GOOG) (NASDAQ: GOOGL) dipped 9% before 10 a.m. on Oct. 25 after the company posted its third-quarter earnings. Revenue rose 11%, beating forecasts by $980 million and returning to double-digit growth.
However, the jump in sales was overshadowed by a disappointing performance from its Google Cloud business, which didn't grow as much as expected. The company is heavily investing in the booming artificial intelligence (AI) market but seems to have fallen behind competitors Microsoft and Amazon.
Alphabet's stock has risen more than 130% in the last five years, with its dominance in digital advertising a compelling reason to invest in it. However, slowing cloud revenue could dampen its long-term prospects in AI.
Source Fool.com
Alphabet Inc. A Stock
With 92 Buy predictions and not a single Sell prediction Alphabet Inc. A is an absolute favorite of our community.
With a target price of 177 € there is a slightly positive potential of 13.32% for Alphabet Inc. A compared to the current price of 156.2 €.
