GOOGL - Can Alphabet Stock Double in the Next 5 Years?
2024-07-13 11:00:00 ET
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is one of the top growth stocks in the world. With dominant businesses like YouTube and Google Search, the company attracts massive amounts of web traffic and advertising revenue. And with the rise of artificial intelligence (AI), it can potentially leverage this technology to get even more out of those businesses, creating value for users and shareholders.
Given the potential for AI to transform Alphabet's business, is the stock likely to double in value over the next five years?
Although Alphabet is one of the largest companies in the world with a market cap of $2.3 trillion as of this writing, it's not an expensive stock given how much profit it generates. Investors are paying just under 30 times earnings to own a piece of the business. By comparison, rival Microsoft trades at 40 times earnings, while Amazon sports a price-to-earnings ratio of 57.
For further details see:
Can Alphabet Stock Double in the Next 5 Years?