Prediction: Alphabet Stock Will Take Off Again... and Here's Why.
There is an answer for investors who fear they missed out on the big rally in technology stocks. After strong 2023 returns, (NASDAQ: GOOG) (NASDAQ: GOOGL) stock has underperformed the tech-heavy Nasdaq Composite index so far this year.
Shares of Google's parent company are up about 1% in 2024 while the index has returned nearly 7%. But with businesses including the leading online search engine, a growing YouTube social media platform, and one of the top three cloud computing platforms, Alphabet stock could be ready to take off again.
Alphabet still gets most of its revenue from advertising, and an online advertising slowdown has soured investors on the company's stock. Google advertising revenue declined by more than 10% in fourth quarter of 2023 year over year.
Source Fool.com
Alphabet Inc. A Stock
The stock is an absolute favorite of our community with 79 Buy predictions and no Sell predictions.
As a result the target price of 162 € shows a slightly positive potential of 3.47% compared to the current price of 156.56 € for Alphabet Inc. A.
