Is Alphabet a Buy?
's (NASDAQ: GOOGL) (NASDAQ: GOOG) big reliance on digital advertising can be a boon in robust economic times, but a headwind in weaker ones.
The company's revenue was up just 3% in the most recent quarter (ended March 31), a sharp slowdown from previous years, showcasing this new macro reality. And Alphabet is focused on cutting costs where it can, with the layoffs of 12,000 employees making headlines.
The market is reacting positively, though, with shares up 40% in 2023. But they are still down 17% from their all-time high. Does this make Alphabet stock a buy right now? Let's look at why I believe the answer to that question is a resounding yes.
Source Fool.com
Alphabet Inc. A Stock
€147.84
0.630%
The stock is an absolute favorite of our community with 96 Buy predictions and no Sell predictions.
As a result the target price of 179 € shows a positive potential of 21.08% compared to the current price of 147.84 € for Alphabet Inc. A.
