Where Will Alphabet Stock Be in 1 Year?

Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) stock declined about 16% over the past 12 months as investors fretted over the macroeconomic challenges to its core advertising business. Rising interest rates and a looming recession have also been weighing down the stock.

But if we tune out that near-term noise, Alphabet's stock looks historically cheap at 21 times forward earnings. It should continue to dominate the online search engine, digital advertising, streaming video, web browsing, and mobile operating system markets for the foreseeable future. While smaller than Amazon's (NASDAQ: AMZN) or Microsoft's (NASDAQ: MSFT), its cloud business may also keep growing.

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Source Fool.com