From Nasdaq: 2024-07-26 14:41:00

Alphabet (GOOGL) beat analysts’ estimates in recent earnings but stock is down. Market weakness and concerns about AI expenditures impacting profits are reasons for sell-off, but Alphabet is a strong long-term investment with discounted valuation. Waymo investment signals huge potential in autonomous driving market. Stock may be a great buying opportunity at current levels.

Alphabet reports strong Q2 earnings with revenue hitting $85 billion. Search and Cloud services performing well, with Cloud segment exceeding $10 billion in revenue. AI technology driving growth, with top customers utilizing AI-driven services. Waymo announces $5 billion expansion with potential for massive business opportunity in autonomous driving market.

Alphabet stock trading at discount with forward earnings multiple of 22x, below market average. Strong performance across business segments and growth catalysts make Alphabet compelling at current levels for long-term investors. Post-earnings dip may present buying opportunity for investors looking to capitalize on leading technology stock.



Read more at Nasdaq: Time to Buy the Dip on Alphabet Following Earnings?