META - Charting Alphabet's Upside

2024-06-11 09:30:00 ET

Summary

• Its Q1 earnings in 2024 saw a significant 15% year-over-year increase, with Google Cloud revenues up by 28%.
• On average, GOOG may reach $205 by the end of 2024, with an optimistic target of $255.
• Alphabet's strong growth across segments, including Google Services, Google Cloud, and YouTube, drives robust revenue and operating income.
• The deployment of its advanced AI model, Gemini, and other AI-driven enhancements are pivotal in maintaining its market leadership and addressing competitive threats.

Investment Thesis

Since our previous bullish coverage on Alphabet ( GOOG )(GOOG:CA) ( GOOGL ), the stock has increased by 11%, reflecting robust investor confidence bolstered by solid earnings performances. Alphabet continues to dominate in search and advertising, with AI innovations like Gemini enhancing its products and market position. Despite competitive pressures, Alphabet's sustained investments in AI and data centers highlight its strategic focus....

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