GOOGL - Google's Accelerated Path To $3 Trillion Market Cap (Rating Upgrade)
2024-07-02 11:48:13 ET
Summary
- Alphabet Inc./Google is projected to reach a $3T market cap in ~3 years based on market's EPS growth.
- I think the timeframe could be even sooner.
- The double-compounding mechanism - profit growth plus a shrinking share base due to aggressive buybacks - could push Google stock to $3T market cap much sooner.
Google stock: EPS projection points to $3T market cap in ~3 years
I last covered Alphabet Inc. aka Google ( GOOG ) ( GOOGL ) with a buy rating 3 months ago under a title of Let your profit run . The article argued that Google’s stock price has a large potential for further growth due to the company’s unique business model, which combines mature segments and new frontiers such as AI and cloud computing. The stock did demonstrate a robust run from ~$156 at that writing (a then-record price) to the current record level of about $185, translating into a total return of 18.5%, far outperforming the broader market’s ~5% return over this period....
Google's Accelerated Path To $3 Trillion Market Cap (Rating Upgrade)