Alphabet (GOOG) stock outperforms S&P 500, showing strong revenue growth and bullish trend.

From Nasdaq: 2024-12-31 09:52:08

Alphabet Inc. (GOOG), valued at $2.4 trillion, leads in technology with services like digital advertising and cloud computing. As a mega-cap stock, GOOG’s market position and innovation in tech sectors solidify its global leadership role.

GOOG shares trade 5% below the 52-week high at $202.88, outperforming the S&P 500 with a 15.3% gain in the last three months. The stock has consistently performed above its moving averages, indicating a bullish trend.

Alphabet’s shares rose 4.4% after unveiling the Willow quantum chip, outperforming with strong revenue growth. Q3 earnings saw a 15.1% revenue increase to $88.3 billion, with Google Services revenue up 13% to $76.5 billion.

GOOG’s performance stands out against Apple (AAPL), with analysts rating it a “Strong Buy” and a mean price target of $211.55, suggesting a 9.8% potential upside. AAPL stock has gained 31% in the past year.



Read more at Nasdaq: Is Alphabet Stock Outperforming the S&P 500?