5 Indisputable Reasons Alphabet Could Rocket Higher in 2024
In the stock market, there are no guarantees. It's impossible to know what others are thinking and what future events may pop up that could derail an entire investment thesis. However, there are some things investors can be fairly certain about, and I'm fairly confident in these predictions with Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL).
Should these predictions come true, and I think there's a high likelihood they will, the stock will rocket higher in response. Let's look at these reasons and then figure out where Alphabet stock may go as a result.
Although you may hear about the various things Alphabet is doing with AI, it's still an advertising business at heart. In Q3, nearly 80% of revenue came from advertising. In late 2022 and early 2023, this wasn't a great business, as many clients pulled back their spending to protect resources in case of a recession. Now that the chances of a recession have somewhat faded, many companies are choosing to advertise again.
Source Fool.com
Alphabet Inc. A Stock
The stock is an absolute favorite of our community with 88 Buy predictions and no Sell predictions.
As a result the target price of 184 € shows a slightly positive potential of 7.8% compared to the current price of 170.68 € for Alphabet Inc. A.
