Alphabet is part of the "Magnificent Seven" stock group, with strong potential for future returns.

From Barchart:

The market has been thriving in 2023, with the S&P 500 and Nasdaq Composite jumping 34% and 54% respectively. The “Magnificent Seven” stocks are leading the way, setting new market cap records.

Investors should consider Alphabet (NASDAQ: GOOG, NASDAQ: GOOGL), the cheapest Magnificent Seven stock at a forward P/E ratio of 21.8. This metric emphasizes net income over sales and incorporates Wall Street’s projections into the analysis for a potential $1 million return in 20 years.

Despite recent pressure, Alphabet’s Google Search remains dominant with $175 billion revenue in 2023 and 92% global market share. The company’s ability to collect vast amounts of data makes it a strong advertising platform, indicating long-term success and maintaining a wide economic moat.

Alphabet includes key assets like YouTube and Google Cloud, setting the stage for revenue and earnings growth. Investors can capitalize on this potential growth and solid performance by considering investing in Alphabet for strong returns in the future.



Read more at Barchart: Can the Cheapest “Magnificent Seven” Stock Turn $100,000 Into $1 Million?