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Alphabet Stock Soars 95% Annually
27 Nov
Summary
- Alphabet's stock climbed 95.7% over the past year.
- AI investments and a strong ad business drive growth.
- Analysts maintain a strong buy rating for the stock.
Alphabet Inc., the parent company of Google, has demonstrated exceptional stock performance, with shares rising 95.7% over the last 52 weeks. This surge significantly outpaces the S&P 500's 11.8% gain during the same period. The company's valuation, exceeding $3.9 trillion, firmly places it in the mega-cap stock category, highlighting its immense market influence.
The robust upward trend is attributed to renewed earnings momentum, particularly from its advertising and cloud segments, and substantial investments in artificial intelligence. Alphabet is strategically allocating capital towards AI infrastructure, including data centers and custom chips, bolstering investor confidence in its long-term growth prospects.
Reflecting strong market sentiment, Wall Street analysts have issued a consensus 'Strong Buy' rating for Alphabet's stock. With 55 analysts covering the company, the stock is currently trading above its average price target, indicating a positive outlook for its future performance.
