From Nasdaq: 2024-05-08 02:00:00

Alphabet (NASDAQ: GOOG) continues to lead the AI revolution, with shares up 59% in the last 12 months and a $2 trillion valuation. Q1 revenue hit $80.5 billion, up 15%, with an increase in earnings per share of 62%. The strong ad revenue jump and Google Cloud’s 28% revenue growth make Alphabet a prime AI stock.

Alphabet’s dominance in the $2 trillion club is backed by strong financials. The rise of smartphones and the internet fuels its success, while YouTube’s popularity boosts its earnings potential. With $95 billion in net cash, Alphabet invests in AI capabilities, leveraging its vast user base for revenue growth. Shares remain undervalued with a forward P/E ratio of 22.2.

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Read more at Nasdaq: This Magnificent Artificial Intelligence (AI) Stock Is Now in the $2 Trillion Club