Google-parent Alphabet posted strong second-quarter numbers that had many Wall Street analysts gushing. The company reported a 7% year-over-year revenue increase to $74.6 billion alongside adjusted earnings per share of $1.44. Analysts polled by Refinitiv forecasted $1.34 per share and $72.82 billion in revenue. A key driver for those results was Google Cloud, which saw revenue surge 28% year over year to $8.03 billion. That's above a StreetAccount forecast of $7.87 billion.
mountain GOOGL pops after earnings Morgan Stanley's Brian Nowak increased his price target on Alphabet stock to $155 per share, or roughly 27% upside, and reiterated an overweight rating. Nowak highlighted the strong growth in Google's Cloud segment which could help add to the premium price on the stock.
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Wall Street analysts stay bullish on Microsoft after earnings given its 'unique position' in A.I.Analysts think the stock can march on higher given the company's leadership in artificial intelligence, among other drivers.
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