Better Tech Stock: Meta Platforms vs. Alphabet
Meta Platforms (NASDAQ: META) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) headed in opposite directions after their latest earnings reports. Meta's stock soared 20% to an all-time high on Feb. 2, after the social media giant followed up its big fourth-quarter earnings beat with rosy guidance for the first quarter, a $50 billion boost to its buyback plan, and the initiation of its first-ever dividend. Alphabet's stock sank 8% on Jan. 31, even though its fourth-quarter numbers easily cleared analysts' expectations with double-digit growth across its core businesses.
As of this writing, Meta's stock has rallied more than 150% over the past 12 months. Alphabet's stock has rallied just over 30%. Let's see why the bulls rushed to Meta instead of Alphabet -- and if that trend will continue throughout the rest of 2024.
Image source: Getty Images.
Source Fool.com
Alphabet Inc. A Stock
The stock is one of the favorites of our community with 165 Buy predictions and 2 Sell predictions.
As a result the target price of 332 € shows a slightly positive potential of 14.5% compared to the current price of 289.95 € for Alphabet Inc. A.
