Here's Why I'm Buying the Dip On Alphabet's Stock Hand Over Fist
Wall Street sometimes gets so latched on to one metric in a quarterly report that it fails to examine the report as a whole. This results in a falling stock price. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) experienced this after its earnings report, as its stock is down more than 10% since then.
This looks like a buying opportunity for one of the world's most prominent companies. If you're wondering why I have a contrarian view to the market and why now is a great time to take action and buy Alphabet's stock, read on.
In the crosshairs for analysts was Google Cloud revenue. It missed expectations by only growing by 22%. In a vacuum, that would seem like a decent growth rate. However, Google Cloud is in third place in the overall cloud computing market share, behind Amazon Web Services (AWS) and Microsoft Azure.
Source Fool.com
Alphabet Inc. A Stock
With 97 Buy predictions and not a single Sell prediction Alphabet Inc. A is an absolute favorite of our community.
With a target price of 180 € there is a positive potential of 21.82% for Alphabet Inc. A compared to the current price of 147.76 €.
