Alphabet's stock surges, with growth in advertising and cloud businesses, positioning it to compete with Nvidia.

From Nasdaq: 2024-06-22 18:45:00

Alphabet’s stock has surged 40% over the past year, nearing an all-time high. Investors were pleased with growth in advertising and cloud businesses, a $70 billion buyback plan, and approval of its first-ever dividend. Despite slower progress in AI, Alphabet seems poised to compete with tech giant Nvidia, worth $3.3 trillion compared to Alphabet’s $2.2 trillion. With accelerating revenue growth in advertising, cloud services, and subscriptions, Alphabet is positioned for success. The company is forecasted to grow revenue at an 11% compound annual rate with EPS increasing at a 20% rate through 2026. Despite tough competition and regulatory challenges, Alphabet remains a strong long-term investment. Consider other top stock picks for potential high returns in the coming years.



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