Alphabet reported strong earnings with growing Search and cloud revenue, alongside positive news for its next-gen ventures like autonomous driving and quantum computing. Despite a 50% stock run, Alphabet remains reasonably priced. Shares of Google parent Alphabet surged 15.7% in October, with revenue hitting $102.3 billion in Q3.

Alphabet defied skeptics with a 16% revenue growth to $102.3 billion and earnings per share up 35% to $2.37 in Q3, exceeding analyst expectations. The core Search business showed strong growth, with Search volume increasing and paid clicks rising 7%. Cloud growth surged by 34%, indicating success in serving AI-related start-ups.

Alphabet CEO Sundar Pichai announced a quantum computing milestone, achieving the “first-ever verifiable quantum advantage.” Good news also came from AI start-up Anthropic, with an estimated cloud computing deal with Google Cloud worth “tens of billions.” Overall, Alphabet is excelling in Search, Cloud, and next-gen technology.

Despite a 50% stock gain this year, Alphabet trades at a reasonable 28 times trailing earnings. Investors were initially concerned about competition from chatbots, but Alphabet’s strong product execution and Search acceleration have propelled the stock. With multiple growth avenues, Alphabet remains an attractive investment option.

Read more at Nasdaq: Why Alphabet Rallied 15.7% in October