From Nasdaq: 2024-05-06 18:30:00

Alphabet stock has hit all-time highs in 2024, driven by strong earnings and dominance in AI computing infrastructure. With a 15% revenue increase in Q1 2024, operating profit jumped 47% to $25.5 billion. Shareholders are benefiting from $15.7 billion in buybacks and a new dividend. The company’s cash reserves stand at $108 billion.

Alphabet’s computing power and cash reserves give it a competitive advantage in the AI race. Google Cloud saw a 28% revenue increase in Q1 2024, with operating margin rising to 9.4%. Despite high CapEx on data center upgrades, Alphabet’s cash flow supports further investments. With a forward P/E ratio of 22, Alphabet remains a strong long-term investment.

Investors seeking AI development opportunities may look to Alphabet, despite not making the top 10 stock picks by Stock Advisor. With historical examples like Nvidia’s massive returns, Alphabet’s potential for growth remains high. Stock Advisor has significantly outperformed the S&P 500 since 2002, offering guidance on building successful portfolios for investors. Consider the options for potential returns.



Read more at Nasdaq: Why Alphabet (Google) Is Still A Great AI Stock For 2024 and Beyond