From Nasdaq: 2024-04-26 10:01:59

Alphabet (GOOG) is set to become a $2 trillion company after reporting better-than-expected Q1 earnings, with revenues of $80.54 billion and $9.57 billion from Google Cloud. The company also initiated a $0.20 dividend and a $70 billion buyback program, following the lead of Meta Platforms (META) in its financial strategy.

Alphabet’s AI initiatives are gaining momentum, with recent announcements at Google Cloud Next 2024 showcasing new technology developments. CEO Sundar Pichai is optimistic about the potential of AI to expand user queries and enhance the user experience. Analysts have raised Alphabet’s target price to $200-205, expecting higher ad revenues and operational leverage.

The market is showing confidence in Alphabet’s AI strategy, with GOOG stock forecasted to rise further despite regulatory challenges. Alphabet’s reasonable valuations and recent financial moves have boosted its standing among Big Tech peers, positioning the stock as a strong buy for investors looking for long-term growth potential.



Read more at Nasdaq: How High Can GOOG Stock Go as Alphabet Wins Some Much-Deserved AI Respect?