Is It Too Late to Buy Alphabet Stock?
Last year was tough for investors, as the U.S. stock market suffered its worst annual performance since 2008. The drop was the result of macroeconomic factors, including high inflation and rising interest rates, weighing on the economy and souring investor sentiment toward industries such as the advertising sector. As a result, the ad industry experienced a downturn that continues into 2023.
Tech giant (NASDAQ: GOOGL)(NASDAQ: GOOG) generates about 80% of its revenue from advertising and that souring sentiment led to a slowdown in revenue growth in 2022. This slowdown was a big part of why Alphabet stock hit a 52-week low of $83.34 last November.
2023 is a different story. A change in sentiment and some investing trends Alphabet has been drawn into helped shares begin a recovery that has so far pushed the price to climb north of $123, which is where it remains. For investors who didn't scoop up shares before the price surge, has the opportunity to buy Alphabet stock passed you by?
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 333 € shows a slightly positive potential of 12.6% compared to the current price of 295.75 € for Alphabet Inc. A.
