Reported about 17 hours ago
Alphabet, the parent company of Google, has seen its market value drop by more than $500 billion due to a recent tech sell-off, leaving it with a valuation of $2 trillion. Despite this significant decline, Alphabet remains the cheapest stock in the 'Magnificent Seven' tech cohort and has solid financials, primarily driven by its advertising revenue. The company is investing heavily in AI and cloud computing, recognizing the growth potential in these sectors. However, it faces scrutiny from the U.S. government regarding potential antitrust actions. Investors may find Alphabet a good buying opportunity amidst current pessimism, even as uncertainties regarding its future existence as a single entity loom.
Source: YAHOO