Google is 'going on the offensive:' What analysts are saying after latest Alphabet earnings

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 72%

Investment Strategy News

Stock Markets,Alphabet Inc,Business News

Most think Alphabet has plenty of room to go, but some questioned how much the stock can consistently grow against such a large spending backdrop.

Analysts and investors are breathing a slight sigh of relief after Alphabet's latest quarterly release, as the results eased concern around the company's progress on artificial intelligence and the state of tech following a broad-sector sell-off. The Google parent reported first-quarter earnings that beat earnings and revenue expectations. The search engine giant also announced its first-ever dividend and a $70 billion buyback, sending shares 10% higher on Friday to an all-time high.

mountain Google stock this year. JPMorgan analyst Doug Anmuth reiterated his overweight rating and hiked his price target by $35 to $200, saying he is "incrementally positive" on the tech giant's ability to drive strong topline growth and achieve gains from its efforts to re-engineer its cost structure. He anticipates Alphabet will increase its spending to around $50 billion this year to support its AI ambitions, like its tech peers.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Spectacular Q1 earnings report from Google leads Alphabet to pay a dividend for the first timeAlan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 15 Pro Max, he has seen smartphones evolve into a global phenomenon.
Source: PhoneArena - 🏆 322. / 59 Read more »