Is It Too Late to Buy Alphabet Stock?
Tech stocks surged in 2023, with the Nasdaq-100 Technology Sector index up 67% over the last 12 months. Excitement over budding markets like artificial intelligence (AI) and cloud computing has made Wall Street bullish, as both have significant growth potential in the coming years.
As a result, a company like (NASDAQ: GOOG) (NASDAQ: GOOGL), with its vast financial resources and dominance in multiple areas of tech, is a compelling investment. Alphabet used its Google brand to branch out to several markets, becoming a titan of digital advertising and heavily investing in AI.
The tech firm's success has seen its annual revenue soar 107% over the last five years, with operating income up 130%. The ever-expanding nature of the tech market will likely keep its earnings trending up over the long term. So, here's why it's not too late to buy Alphabet stock, with the company an attractive option for the new year.
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 11.37% compared to the current price of 299.0 € for Alphabet Inc. A.
