Google Cloud Hit a Snag, but Here's Why Alphabet Stock Is a Buy Anyway
Shares of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) were down some 10% after its third-quarter earnings update. The blame is falling on slowing growth in Google Cloud, a key driver now that Google Search and other various advertising businesses have matured.
Google Cloud now makes up 11% of total Alphabet revenue after growing 22% year over year, slower than the high-20s percentages that have been reported in past quarters.
Nevertheless, Alphabet stock has still had a sizable rebound this year, and it looks like a reasonable value again after this update in spite of a brief snag for Google Cloud.
Source Fool.com
Alphabet Inc. A Stock
€148.90
0.120%
The stock is an absolute favorite of our community with 94 Buy predictions and no Sell predictions.
As a result the target price of 179 € shows a positive potential of 20.21% compared to the current price of 148.9 € for Alphabet Inc. A.
