Is It Too Late to Buy Alphabet Stock?
You can be forgiven for thinking you missed the boat on Google parent Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG). The stock has risen 25% from its 52-week low, and the emergence of artificial intelligence-powered ChatGPT poses the first viable competitive threat to its search engine in years.
However, investors may not truly understand the nature of the company, or they may forget the existing reasons to buy Alphabet stock. Hence, they should look at Alphabet from a macro view before dismissing the company too quickly.
For all the concerns about its place in search, Alphabet has evolved far from the ad-funded search engine that put it on the map. With a growing interest in other parts of the tech industry, it has worked for years to transition away from its advertising-dependent model. The company has not moved quickly in this endeavor, as 79% of Alphabet's revenue still came from ads in 2022.
Source Fool.com
