Alphabet (GOOGL)
Market Price (11/1/2026): $281.45 | Market Cap: $3.5 TrilInvestor Relations Sector: Communication Services | Industry: Interactive Media & Services
Alphabet (GOOGL)
Market Price (11/1/2026): $281.45Market Cap: $3.5 TrilSector: Communication ServicesIndustry: Interactive Media & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.2% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 33% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, CFO LTM is 180 Bil, FCF LTM is 20 Bil Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -25% Stock buyback supportStock Buyback 3Y Total is 124 Bil Low stock price volatilityVol 12M is 34% Megatrend and thematic driversMegatrends include Artificial Intelligence, Autonomous Technologies, Cybersecurity, Cloud Computing, Show more. | Expensive valuation multiplesP/SPrice/Sales ratio is 7.3x Key risksGOOGL key risks include [1] the structural threat of generative AI disrupting its core search business and [2] intensifying global antitrust investigations that could force divestitures or major changes to its business practices. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.2% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 33% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, CFO LTM is 180 Bil, FCF LTM is 20 Bil |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -25% |
| Stock buyback supportStock Buyback 3Y Total is 124 Bil |
| Low stock price volatilityVol 12M is 34% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, Autonomous Technologies, Cybersecurity, Cloud Computing, Show more. |
| Expensive valuation multiplesP/SPrice/Sales ratio is 7.3x |
| Key risksGOOGL key risks include [1] the structural threat of generative AI disrupting its core search business and [2] intensifying global antitrust investigations that could force divestitures or major changes to its business practices. |
Qualitative Assessment
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Alphabet (GOOGL) stock has lost about 20% since 7/31/2026 because of the following key factors:
1. Fiscal Q3 2026 Earnings Miss and Decelerating Search Advertising Growth. Alphabet reported diluted earnings per share (EPS) of $2.12 for fiscal Q3 2026 (ended September 30, 2026), falling short of the consensus estimate of $3.01. Total revenue of $127.58 billion also missed the estimated $127.97 billion. A primary driver for this shortfall was the slowdown in Google Search & other advertising revenue growth, which increased by 12% in fiscal Q3 2026 to approximately $63.3 billion, a decline from the 17% growth observed in fiscal Q2 2026. This deceleration was partially attributed to AI Mode queries generating lower monetization compared to traditional searches.
2. Soaring AI Infrastructure Investments Leading to Negative Free Cash Flow. Capital expenditures surged by 114% year-over-year in fiscal Q3 2026, reaching $51.36 billion. This aggressive spending on AI infrastructure outstripped the operating cash flow of $42.29 billion, resulting in a negative free cash flow of $9.07 billion for the quarter. This marked a significant drop from the positive $24.46 billion reported in the same period last year and represented the lowest free cash flow in the past 16 quarters. Alphabet also maintained its substantial 2026 capital expenditure guidance of $195 billion to $205 billion and indicated further increases for 2027.
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Alphabet (GOOGL) stock has lost about 20% since 7/31/2026 because of the following key factors:
1. Fiscal Q3 2026 Earnings Miss and Decelerating Search Advertising Growth. Alphabet reported diluted earnings per share (EPS) of $2.12 for fiscal Q3 2026 (ended September 30, 2026), falling short of the consensus estimate of $3.01. Total revenue of $127.58 billion also missed the estimated $127.97 billion. A primary driver for this shortfall was the slowdown in Google Search & other advertising revenue growth, which increased by 12% in fiscal Q3 2026 to approximately $63.3 billion, a decline from the 17% growth observed in fiscal Q2 2026. This deceleration was partially attributed to AI Mode queries generating lower monetization compared to traditional searches.
2. Soaring AI Infrastructure Investments Leading to Negative Free Cash Flow. Capital expenditures surged by 114% year-over-year in fiscal Q3 2026, reaching $51.36 billion. This aggressive spending on AI infrastructure outstripped the operating cash flow of $42.29 billion, resulting in a negative free cash flow of $9.07 billion for the quarter. This marked a significant drop from the positive $24.46 billion reported in the same period last year and represented the lowest free cash flow in the past 16 quarters. Alphabet also maintained its substantial 2026 capital expenditure guidance of $195 billion to $205 billion and indicated further increases for 2027.
3. Macroeconomic Headwinds from Surging Long-Term Interest Rates. The period was characterized by a challenging macroeconomic environment, particularly surging long-term interest rates. The yield on the 10-year U.S. Treasury climbed to 5.28% by September 30, 2026, levels not seen since 2007. This increase in interest rates translates to higher financing costs for companies and generally reduces the present value of future earnings, contributing to a broader selloff in growth-oriented technology stocks, including Alphabet.
4. Unrealized Loss on Investment in SpaceX. Alphabet's financial results for fiscal Q3 2026 were negatively impacted by an $8.2 billion loss in other income and expenses. This was primarily due to an unrealized loss from its investment in SpaceX, which experienced a decline in its stock price during the quarter.
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Stock Movement Drivers
Fundamental Drivers
The -21.4% change in GOOGL stock from 7/31/2026 to 10/31/2026 was primarily driven by a -17.8% change in the company's P/E Multiple.| (LTM values as of) | 7312026 | 10312026 | Change |
|---|---|---|---|
| Stock Price ($) | 355.90 | 279.84 | -21.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 445,867 | 471,098 | 5.7% |
| Net Income Margin (%) | 54.8% | 50.0% | -8.7% |
| P/E Multiple | 17.7 | 14.6 | -17.8% |
| Shares Outstanding (Mil) | 12,151 | 12,256 | -0.9% |
| Cumulative Contribution | -21.4% |
Market Drivers
7/31/2026 to 10/31/2026| Return | Correlation | |
|---|---|---|
| GOOGL | -21.4% | |
| Market (SPY) | 1.2% | 44.9% |
| Sector (XLC) | -7.7% | 58.9% |
Fundamental Drivers
The -27.2% change in GOOGL stock from 4/30/2026 to 10/31/2026 was primarily driven by a -49.9% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 10312026 | Change |
|---|---|---|---|
| Stock Price ($) | 384.32 | 279.84 | -27.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 422,499 | 471,098 | 11.5% |
| Net Income Margin (%) | 37.9% | 50.0% | 31.9% |
| P/E Multiple | 29.0 | 14.6 | -49.9% |
| Shares Outstanding (Mil) | 12,099 | 12,256 | -1.3% |
| Cumulative Contribution | -27.2% |
Market Drivers
4/30/2026 to 10/31/2026| Return | Correlation | |
|---|---|---|
| GOOGL | -27.2% | |
| Market (SPY) | 5.4% | 46.4% |
| Sector (XLC) | -14.0% | 66.2% |
Fundamental Drivers
The -0.2% change in GOOGL stock from 10/31/2025 to 10/31/2026 was primarily driven by a -46.7% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 10312026 | Change |
|---|---|---|---|
| Stock Price ($) | 280.46 | 279.84 | -0.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 385,477 | 471,098 | 22.2% |
| Net Income Margin (%) | 32.2% | 50.0% | 55.2% |
| P/E Multiple | 27.3 | 14.6 | -46.7% |
| Shares Outstanding (Mil) | 12,086 | 12,256 | -1.4% |
| Cumulative Contribution | -0.2% |
Market Drivers
10/31/2025 to 10/31/2026| Return | Correlation | |
|---|---|---|
| GOOGL | -0.2% | |
| Market (SPY) | 11.7% | 53.5% |
| Sector (XLC) | -12.2% | 63.7% |
Fundamental Drivers
The 127.7% change in GOOGL stock from 10/31/2023 to 10/31/2026 was primarily driven by a 122.8% change in the company's Net Income Margin (%).| (LTM values as of) | 10312023 | 10312026 | Change |
|---|---|---|---|
| Stock Price ($) | 122.91 | 279.84 | 127.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 297,132 | 471,098 | 58.5% |
| Net Income Margin (%) | 22.5% | 50.0% | 122.8% |
| P/E Multiple | 23.2 | 14.6 | -37.2% |
| Shares Outstanding (Mil) | 12,581 | 12,256 | 2.7% |
| Cumulative Contribution | 127.7% |
Market Drivers
10/31/2023 to 10/31/2026| Return | Correlation | |
|---|---|---|
| GOOGL | 127.7% | |
| Market (SPY) | 86.9% | 55.9% |
| Sector (XLC) | 59.3% | 66.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GOOGL Return | 65% | -39% | 58% | 36% | 66% | -10% | 222% |
| Peers Return | 25% | -44% | 89% | 47% | 10% | -0% | 114% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| GOOGL Win Rate | 83% | 25% | 67% | 67% | 75% | 30% | |
| Peers Win Rate | 60% | 30% | 75% | 68% | 47% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| GOOGL Max Drawdown | -8% | -44% | -17% | -22% | -30% | -30% | |
| Peers Max Drawdown | -16% | -53% | -18% | -16% | -29% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSFT, AMZN, META, AAPL, NFLX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/30/2026 (YTD)
How Low Can It Go
| Event | GOOGL | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.8% | -18.8% |
| % Gain to Breakeven | 27.9% | 23.1% |
| Time to Breakeven | 101 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -17.2% | -7.8% |
| % Gain to Breakeven | 20.8% | 8.5% |
| Time to Breakeven | 127 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -36.4% | -24.5% |
| % Gain to Breakeven | 57.2% | 32.4% |
| Time to Breakeven | 449 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.9% | -33.7% |
| % Gain to Breakeven | 44.7% | 50.9% |
| Time to Breakeven | 109 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -18.7% | -19.2% |
| % Gain to Breakeven | 23.0% | 23.8% |
| Time to Breakeven | 86 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -11.8% | -12.2% |
| % Gain to Breakeven | 13.3% | 13.9% |
| Time to Breakeven | 52 days | 62 days |
In The Past
Alphabet's stock fell -21.8% during the 2025 US Tariff Shock. Such a loss loss requires a 27.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | GOOGL | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.8% | -18.8% |
| % Gain to Breakeven | 27.9% | 23.1% |
| Time to Breakeven | 101 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -36.4% | -24.5% |
| % Gain to Breakeven | 57.2% | 32.4% |
| Time to Breakeven | 449 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.9% | -33.7% |
| % Gain to Breakeven | 44.7% | 50.9% |
| Time to Breakeven | 109 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -20.6% | -17.9% |
| % Gain to Breakeven | 25.9% | 21.8% |
| Time to Breakeven | 105 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -63.8% | -53.4% |
| % Gain to Breakeven | 176.1% | 114.4% |
| Time to Breakeven | 1394 days | 1085 days |
In The Past
Alphabet's stock fell -21.8% during the 2025 US Tariff Shock. Such a loss loss requires a 27.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Alphabet (GOOGL)
Alphabet Inc. (GOOGL) is a global technology conglomerate operating across various sectors, primarily focused on internet services, software, and hardware. The company structures its diverse offerings into three main segments: Google Services, Google Cloud, and Other Bets. This broad portfolio allows Alphabet to serve a vast global audience, from individual consumers to large enterprises across the United States, Europe, Asia-Pacific, Canada, and Latin America.
The largest segment, Google Services, encompasses the products and platforms most people associate with Google. This includes its dominant search engine, Android mobile operating system, Chrome web browser, and widely used applications like Gmail, Google Maps, Google Photos, and YouTube. A significant portion of its revenue comes from advertising within Search and YouTube. Additionally, this segment develops and sells hardware, such as Pixel phones, Fitbit wearable devices, and Google Nest smart home products, catering directly to consumers worldwide and generating revenue through app and content sales on Google Play.
Beyond its consumer-facing products, Alphabet also provides robust enterprise solutions through its Google Cloud segment. This offers cloud computing infrastructure, platforms, and various services, alongside Google Workspace, a suite of cloud-based collaboration tools like Gmail, Docs, and Drive tailored for businesses. The "Other Bets" segment represents Alphabet's ventures into emerging technologies and long-term projects, including health technology and experimental internet services, demonstrating its commitment to innovation and future growth across various industries.
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- Alphabet is like "Amazon for the internet's information and advertising," combined with a leading cloud computing service.
- Alphabet is like a combination of Meta (Facebook) and Microsoft, dominating digital advertising, consumer software platforms (Android, Chrome), and enterprise cloud services.
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- Search Engine (Google Search): Provides information retrieval across the internet.
- Advertising Platforms (Google Ads): Offers advertising solutions for businesses across Google's vast network.
- Mobile Operating System (Android): Powers a wide range of smartphones and other devices.
- Web Browser (Chrome): A popular web browser for accessing the internet.
- Productivity & Collaboration Tools (Gmail, Drive, Photos, Maps): A suite of services for email, cloud storage, photo management, and navigation.
- Digital Content Store (Google Play): A platform for downloading apps, games, movies, and other digital content.
- Video Hosting & Streaming (YouTube): A platform for users to upload, watch, and share videos, including non-advertising subscription services.
- Consumer Hardware (Pixel, Nest, Fitbit): Manufactures smartphones, smart home devices, and wearable fitness trackers.
- Cloud Computing Services (Google Cloud): Offers infrastructure, platform, and other cloud services for enterprises.
- Enterprise Collaboration Software (Google Workspace): Provides cloud-based productivity and collaboration tools like Gmail, Docs, and Meet for businesses.
- Health Technology Services: Develops and sells health-related technology and services.
- Other Internet Services: Engages in various other internet-based services.
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Major Customers of Alphabet (GOOGL)
Alphabet Inc. primarily sells its products and services to other companies. Its major customers fall into two broad categories:
- Advertisers: A vast number of businesses across virtually every industry globally utilize Alphabet's advertising platforms (Google Search, YouTube, Google Display Network) to reach individuals. These range from small and medium-sized businesses to large multinational corporations. Due to the sheer volume and proprietary nature of advertising relationships, Alphabet does not typically disclose a comprehensive list of its major advertising customers. Effectively, any public company that advertises online is a customer.
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Enterprise and Cloud Customers: Businesses of all sizes subscribe to Google Cloud services, which include infrastructure, platforms, and Google Workspace collaboration tools. Alphabet has publicly announced numerous major enterprise customers for its Google Cloud segment. Examples of such major public company customers include:
- Coca-Cola Co (KO)
- Target Corp (TGT)
- The Home Depot Inc (HD)
- Ford Motor Company (F)
- Goldman Sachs Group Inc (GS)
- PayPal Holdings Inc (PYPL)
- LVMH Moët Hennessy Louis Vuitton SE (LVMUY)
While Alphabet also sells hardware (e.g., Pixel phones, Nest products) and digital content directly to individuals, its primary revenue streams and major customer relationships are with other businesses.
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- Taiwan Semiconductor Manufacturing Company Limited (TSM)
- Samsung Electronics Co., Ltd. (005930.KS)
- Qualcomm Inc. (QCOM)
- Hon Hai Precision Industry Co., Ltd. (2317.TW)
- Sony Group Corporation (SONY)
- Micron Technology, Inc. (MU)
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Sundar Pichai, Chief Executive Officer of Alphabet and Google
Sundar Pichai joined Google in 2004, where he led product management and innovation efforts for products such as Google Chrome, ChromeOS, and Google Drive. He also oversaw the development of applications like Gmail and Google Maps. Pichai was appointed CEO of Google in 2015 and subsequently became the CEO of its parent company, Alphabet Inc., in 2019. Before his tenure at Google, he worked in engineering and product management at Applied Materials and in management consulting at McKinsey & Company.
Anat Ashkenazi, Senior Vice President and Chief Financial Officer, Alphabet and Google
Anat Ashkenazi was appointed as the Senior Vice President and Chief Financial Officer of Alphabet and Google, with her role becoming effective on July 31, 2024. Prior to joining Alphabet, she served as the Chief Financial Officer at Eli Lilly and Company for over two decades, where she gained extensive experience across various financial, strategy, and operations roles within the company's global divisions.
Ruth Porat, President and Chief Investment Officer of Alphabet and Google
Ruth Porat has served as the President and Chief Investment Officer of Alphabet and Google since September 1, 2023. Before transitioning to her current role, she was the Senior Vice President and Chief Financial Officer of Alphabet and Google from May 2015 until July 2024. Prior to her time at Google, Porat held the position of Executive Vice President & Chief Financial Officer at Morgan Stanley from 2010 to 2015, having spent a total of 27 years at the firm. She is notably credited with structuring the European debt financing that helped save Amazon during the dot-com downturn in 2000. Additionally, she serves on the Board of Directors of Blackstone Inc., a prominent private equity firm.
Philipp Schindler, Senior Vice President, Chief Business Officer, Google
Philipp Schindler is the Senior Vice President and Chief Business Officer for Google, overseeing global and regional sales activities for Google and YouTube, as well as technical and consumer operations, product-sales strategy, and partnerships for Android and Chrome. He joined Google in 2005. Before Google, Schindler was a Senior Vice President of Marketing & Sales at AOL Germany, where he was a member of their management board for six years. He also previously served as head of marketing at CompuServe in Germany, an AOL Inc. subsidiary, and was involved in new media activities within Bertelsmann AG's junior talent program.
Kent Walker, President, Global Affairs, Chief Legal Officer and Secretary, Alphabet and Google
Kent Walker serves as the President of Global Affairs, Chief Legal Officer, and Secretary for Alphabet Inc. and its subsidiary Google. In this capacity, he is responsible for legal matters, public policy, government relations, content policy, and regulatory compliance. Walker joined Google in 2006. His career before Google included executive legal and policy roles at various technology and media companies such as eBay, Liberate Technologies, Netscape, and Airtouch Communications. He also previously served as an Assistant U.S. Attorney at the United States Department of Justice.
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The key risks to Alphabet's business include:
- Regulatory and Antitrust Scrutiny: Alphabet faces intensifying regulatory pressure and ongoing antitrust lawsuits globally due to its dominant market positions in areas such as search, Android, and advertising technology. These legal and regulatory challenges could result in significant fines, forced changes to its business practices, or even a potential breakup of certain parts of the company.
- Disruption to Search and Advertising from AI: The emergence of generative artificial intelligence (AI) and intelligent agents presents a structural threat to Alphabet's core search and advertising business model. AI-powered search results, which provide direct answers, could reduce the need for users to click on traditional ads, potentially eroding query volume, ad impressions, and click-through rates. Furthermore, new AI-native competitors are not constrained by existing advertising revenue models, making it more challenging for Alphabet to innovate while protecting its cash-generating search engine.
- Dependence on Advertising Revenue: A substantial portion of Alphabet's total revenue, approximately 70-77%, is derived from advertising through Google Search and YouTube. This heavy reliance on advertising makes the company vulnerable to fluctuations in digital advertising trends, economic downturns, and increased competition within the digital advertising market.
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AI-powered search engines, such as those integrated with large language models like ChatGPT, pose a clear emerging threat to Alphabet's core Search business by offering direct answers and potentially bypassing traditional link-based search results and associated advertising. This shift could fundamentally alter how users find information and consume digital content.
TikTok and other short-form video platforms represent another significant emerging threat, directly competing with YouTube for user attention, creator talent, and advertising revenue, particularly among younger demographics. This competition forces YouTube to adapt its content strategy and monetization models.
Apple's increasing emphasis on user privacy, including initiatives like App Tracking Transparency (ATT), presents an ongoing threat to Alphabet's advertising ecosystem. These changes restrict data collection and ad targeting capabilities across mobile platforms, potentially impacting the effectiveness and profitability of Google's mobile advertising business.
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Addressable Markets for Alphabet Inc. (GOOGL) Main Products and Services
Alphabet Inc. operates across diverse and expansive addressable markets globally. The following outlines the market sizes for its key products and services, specifying the relevant regions where available:
Google Services Segment
- Digital Advertising (including Search and YouTube Ads): The global digital ad spending market size was approximately USD 650.00 billion in 2025 and is expected to exceed USD 1,593 billion by 2035. Similarly, the global online advertising market was valued at USD 359.88 billion in 2025 and is projected to grow to USD 1,344.68 billion by 2034. North America alone holds approximately 36% of the global online advertising market share.
- Mobile Operating Systems (Android): The global mobile operating system market size was estimated at USD 54.51 billion in 2025 and is expected to reach USD 57.97 billion in 2026. Another estimate places the market size at USD 69.48 billion in 2025, projected to reach USD 465.15 billion by 2033. Android commanded the largest market share of 71.45% in 2025.
-
Hardware (Pixel Phones, Fitbit Wearable Devices, Google Nest Home Products):
- Smartphones (Pixel Phones): The global smartphone market size was estimated at USD 520.45 billion in 2024 and is projected to reach USD 651.82 billion by 2030. Another report valued the market at USD 598.92 billion in 2025, with projections to expand from USD 642.64 billion in 2026 to USD 1,129.19 billion by 2034. Asia Pacific dominated the smartphone market with a 47.7% revenue share in 2024. North America contributed approximately 20% of global smartphone unit shipments in 2024.
- Wearable Technology (Fitbit): The global wearable technology market size was valued at USD 86.78 billion in 2025 and is projected to grow to USD 231.43 billion by 2034. North America held the largest market share, accounting for 38.80% of the global wearable technology market in 2025.
- Smart Home Devices (Google Nest): The global smart home market size was valued at USD 127.80 billion in 2024 and is projected to reach USD 537.27 billion by 2030. Another source estimated the market at USD 163.30 billion in 2025. North America held a significant share of over 25% of the smart home market in 2024 and dominated the global smart home devices market with a 39.45% market share in 2025.
- YouTube (Non-advertising services/Online Video Platform): The global online video platform market size was valued at USD 1.1 billion in 2024 and is expected to reach USD 2.8 billion by 2033. Another report estimated the market size at USD 11.27 billion in 2024, poised to grow to USD 47.04 billion by 2033. North America dominates this market with approximately 38% global market share.
- Google Play (App Store): The global mobile app stores market size was estimated at USD 71.7 billion in 2023 and is expected to reach USD 140.3 billion by 2032. The App Store ecosystem facilitated nearly USD 1.3 trillion in billings and sales worldwide in 2024. Google Play is projected to dominate the mobile application store market with a 59.4% market share in 2025.
Google Cloud Segment
- Cloud Computing (Google Cloud Platform and Google Workspace infrastructure/platform services): The global cloud computing market size was valued at USD 781.27 billion in 2025 and is projected to grow to USD 2,904.52 billion by 2034. North America dominated the cloud computing industry with a 52.0% market share in 2025, and the North America market stood at USD 406.08 billion in 2025, projected to grow to USD 466.77 billion in 2026. The US cloud computing market is expected to grow from USD 485.54 billion in 2025 to USD 721.30 billion by 2030.
- Enterprise Collaboration Software (Google Workspace): The global enterprise collaboration market size was valued at USD 53.93 billion in 2024 and is expected to reach USD 132.64 billion by 2032. North America dominated this market with a 42.60% share in 2025, and the U.S. market is projected to reach USD 17.06 billion by 2026.
Other Bets Segment
- Health Technology: The global HealthTech market size was valued at USD 908.5 billion in 2023 and is projected to reach USD 3,140.9 billion by 2033. Another report calculated the global digital health market size at USD 420.08 billion in 2025, predicted to increase to approximately USD 1,171.24 billion by 2035. North America held the largest market share in 2023 and dominated with a 38.45% revenue share in 2025.
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Expected Drivers of Future Revenue Growth for Alphabet (GOOGL)
Over the next 2-3 years, Alphabet's revenue growth is expected to be driven by several key factors:
- AI Monetization across Products: Alphabet is actively integrating its Gemini AI models across its core products such as Search, YouTube, and Google Workspace, with promising early results in generating revenue. This includes enhanced AI-generated responses in Search and new AI tools designed for creators on YouTube. The company also anticipates new revenue streams from advertising within Gemini and improved targeting for Google Search.
- Google Cloud Expansion: Google Cloud is a significant engine for growth, propelled by robust demand for its cloud services, an increasing contribution from AI technologies, and a substantial, expanding backlog of business. Alphabet is making considerable investments in AI infrastructure to support this surging demand.
- YouTube Advertising and Subscriptions: YouTube's advertising revenue continues to grow, driven by both direct response and brand advertising. Furthermore, YouTube's subscription services, including YouTube Premium, YouTube Music, and YouTube TV, are a rapidly expanding revenue source, having reached $15 billion in annual revenue and increasing fivefold since 2019. The monetization of YouTube Shorts is also expected to contribute to this growth.
- Sustained Growth in Google Search and Other Advertising: Google Search remains the largest contributor to Alphabet's overall revenue growth, with strong performance in retail advertising. The ongoing integration of AI is anticipated to further enhance Search capabilities and bolster its continued revenue generation.
- Growth in Subscriptions Across Google Services: Beyond YouTube, subscriptions across other Google Services, such as Google One, are contributing to the company's overall revenue growth.
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Share Repurchases
- Alphabet repurchased approximately $61.504 billion in shares in 2023 and $62.222 billion in 2024.
- The company executed $45.709 billion in share buybacks during 2025.
- Alphabet's Board of Directors authorized an additional $70 billion share repurchase program on April 23, 2025.
Share Issuance
- Alphabet issued approximately $22.5 billion in stock-based compensation to employees in 2023.
- The number of shares outstanding generally declined, with 13.599 billion in 2022, 13.313 billion in 2023, 13.079 billion in 2024, and 12.088 billion in 2025.
Outbound Investments
- In September 2022, Alphabet completed the acquisition of cybersecurity firm Mandiant for $5.4 billion to enhance Google Cloud's security offerings.
- Alphabet announced its largest acquisition to date in March 2025, agreeing to acquire cloud security startup Wiz for $32 billion to further strengthen Google Cloud.
- In December 2025, Alphabet announced the acquisition of Intersect Power LLC for $4.75 billion (including assumed debt) to secure power supply for its expanding data centers and AI development, with completion expected in the first half of 2026.
Capital Expenditures
- Capital expenditures were $32.251 billion in 2023 and $52.535 billion in 2024.
- Alphabet's capital expenditures reached approximately $91.447 billion in 2025, an increase from earlier estimates, primarily driven by investments in servers and data center construction.
- For 2026, Alphabet expects capital expenditures to be in the range of $175 billion to $185 billion, nearly doubling the 2025 figures, with a strong focus on AI infrastructure, cloud computing capacity, and next-generation data centers to meet customer demand and reduce cloud computing backlog.
Peer Outperformance in Interactive Media & Services
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -16.6% | 13.4% | 43.0% | ECHO 313% · TMUS 43% |
| Publishing | 5 | 24.6% | 11.5% | 22.6% | NYT 36% · NWSA 33% |
| Integrated Telecommunication Services | 21 | -13.5% | -2.5% | -25.0% | GSAT 233% · AD 135% · TDS 112% |
| Movies & Entertainment | 24 | 14.7% | 47.4% | -31.6% | IMAX 168% · CNK 113% · BATRA 79% |
| Alternative Carriers | 4 | -32.3% | 16.7% | -66.9% | IRDM 19% · LUMN -55% |
| Interactive Home Entertainment | 8 | -44.7% | -35.3% | -70.5% | TTWO 5% · RBLX -49% · PINS -57% |
| Advertising | 18 | -32.3% | -3.3% | -70.8% | APP 133% · OMC 43% · STGW 21% |
| Broadcasting | 14 | -15.4% | -13.6% | -71.6% | FOXA 69% · NXST 35% · SIRI -47% |
| Interactive Media & Services ← | 32 | -38.7% | -26.7% | -71.6% | META 92% · GOOGL 91% · CARG -4% |
Latest Trefis Analyses
Research & Analysis
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 313.29 |
| Mkt Cap | 3,025.0 |
| Rev LTM | 406,634 |
| Op Inc LTM | 129,612 |
| FCF LTM | 24,198 |
| FCF 3Y Avg | 45,822 |
| CFO LTM | 157,512 |
| CFO 3Y Avg | 130,004 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 16.6% |
| Rev Chg 3Y Avg | 15.8% |
| Rev Chg Q | 17.6% |
| QoQ Delta Rev Chg LTM | 3.9% |
| Op Inc Chg LTM | 21.6% |
| Op Inc Chg 3Y Avg | 29.3% |
| Op Mgn LTM | 33.0% |
| Op Mgn 3Y Avg | 32.1% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 34.8% |
| CFO/Rev 3Y Avg | 32.6% |
| FCF/Rev LTM | 14.6% |
| FCF/Rev 3Y Avg | 21.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3,025.0 |
| P/S | 6.9 |
| P/Op Inc | 22.9 |
| P/EBIT | 16.9 |
| P/E | 20.1 |
| P/CFO | 19.5 |
| Total Yield | 5.2% |
| Dividend Yield | 0.3% |
| FCF Yield 3Y Avg | 2.2% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Google Services | 342,721 | 304,930 | 272,543 | 253,528 | 237,529 |
| Google Cloud | 58,705 | 43,229 | 33,088 | 26,280 | 19,206 |
| Other Bets | 1,537 | 1,648 | 1,527 | 1,068 | 753 |
| Hedging gains (losses) | -127 | 211 | 236 | 1,960 | 149 |
| Total | 402,836 | 350,018 | 307,394 | 282,836 | 257,637 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Google Services | 139,404 | 121,263 | 95,858 | 82,699 | 88,132 |
| Google Cloud | 13,910 | 6,112 | 1,716 | -1,922 | -2,282 |
| Other Bets | -7,515 | -4,444 | -4,095 | -4,636 | -4,051 |
| Alphabet-level activities | -16,760 | -10,541 | -9,186 | -1,299 | -3,085 |
| Total | 129,039 | 112,390 | 84,293 | 74,842 | 78,714 |
Price Behavior
| Market Price | $279.84 | |
| Market Cap ($ Bil) | 3,429.7 | |
| First Trading Date | 08/19/2004 | |
| Distance from 52W High | -30.4% | |
| 50 Days | 200 Days | |
| DMA Price | $339.03 | $340.34 |
| DMA Trend | down | indeterminate |
| Distance from DMA | -17.5% | -17.8% |
| 3M | 1YR | |
| Volatility | 34.3% | 33.8% |
| Downside Capture | 173.18 | 136.89 |
| Upside Capture | 90.72 | 138.52 |
| Correlation (S&P 500) | 35.3% | 50.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.61 | 1.46 | 1.49 | 1.36 | 1.41 | 1.14 |
| Up Beta | 2.26 | 1.75 | 1.93 | 1.56 | 1.76 | 1.11 |
| Down Beta | 0.51 | 1.51 | 1.37 | 0.97 | 0.98 | 1.03 |
| Up Capture | 36% | 82% | 79% | 96% | 158% | 196% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 11 | 22 | 31 | 59 | 123 | 409 |
| Down Capture | 310% | 205% | 207% | 171% | 131% | 105% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 11 | 21 | 33 | 67 | 128 | 342 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GOOGL | |
|---|---|---|---|---|
| GOOGL | 2.2% | 33.8% | 0.10 | - |
| Sector ETF (XLC) | -13.4% | 16.4% | -1.06 | 62.4% |
| Equity (SPY) | 10.9% | 12.8% | 0.52 | 52.4% |
| Gold (GLD) | -2.0% | 28.6% | -0.08 | 18.4% |
| Commodities (DBC) | 48.2% | 20.6% | 1.79 | -19.8% |
| Real Estate (VNQ) | 10.2% | 13.7% | 0.45 | 6.8% |
| Bitcoin (BTCUSD) | -30.0% | 43.5% | -0.70 | 20.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GOOGL | |
|---|---|---|---|---|
| GOOGL | 15.5% | 32.6% | 0.49 | - |
| Sector ETF (XLC) | 5.5% | 21.0% | 0.18 | 75.0% |
| Equity (SPY) | 12.2% | 17.1% | 0.53 | 65.8% |
| Gold (GLD) | 16.2% | 19.0% | 0.68 | 11.5% |
| Commodities (DBC) | 9.2% | 19.5% | 0.35 | 5.1% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 32.6% |
| Bitcoin (BTCUSD) | 4.9% | 51.6% | 0.28 | 28.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GOOGL | |
|---|---|---|---|---|
| GOOGL | 21.3% | 29.9% | 0.70 | - |
| Sector ETF (XLC) | 8.0% | 22.1% | 0.39 | 80.0% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 70.4% |
| Gold (GLD) | 11.4% | 16.5% | 0.56 | 9.3% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 15.5% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.21 | 39.7% |
| Bitcoin (BTCUSD) | 61.8% | 66.2% | 1.02 | 19.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 11/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/28/2026 | -12.6% | ||
| 7/22/2026 | -7.1% | -1.6% | -0.4% |
| 4/29/2026 | 10.0% | 13.7% | 8.7% |
| 2/4/2026 | -0.5% | -6.6% | -10.4% |
| 10/29/2025 | 2.5% | 3.5% | 14.7% |
| 7/23/2025 | 1.0% | 3.3% | 5.0% |
| 4/24/2025 | 1.7% | 1.3% | 5.8% |
| 2/4/2025 | -7.3% | -10.2% | -16.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 14 | 12 |
| # Negative | 11 | 9 | 11 |
| Median Positive | 5.0% | 3.4% | 8.0% |
| Median Negative | -7.1% | -6.6% | -8.6% |
| Max Positive | 10.2% | 13.7% | 16.4% |
| Max Negative | -12.6% | -13.4% | -16.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/28/2026 | -12.6% | ||
| 7/22/2026 | -7.1% | -1.6% | -0.4% |
| 4/29/2026 | 10.0% | 13.7% | 8.7% |
| 2/4/2026 | -0.5% | -6.6% | -10.4% |
| 10/29/2025 | 2.5% | 3.5% | 14.7% |
| 7/23/2025 | 1.0% | 3.3% | 5.0% |
| 4/24/2025 | 1.7% | 1.3% | 5.8% |
| 2/4/2025 | -7.3% | -10.2% | -16.5% |
| 10/29/2024 | 2.8% | 0.0% | -0.3% |
| 7/23/2024 | -5.0% | -6.3% | -8.8% |
| 4/25/2024 | 10.2% | 6.8% | 12.2% |
| 1/30/2024 | -7.5% | -4.9% | -8.6% |
| 10/24/2023 | -9.5% | -10.6% | -0.2% |
| 7/25/2023 | 5.8% | 7.6% | 8.3% |
| 4/25/2023 | -0.1% | 1.4% | 16.4% |
| 2/2/2023 | -2.7% | -11.8% | -11.7% |
| 10/25/2022 | -9.1% | -13.4% | -5.8% |
| 7/26/2022 | 7.7% | 9.6% | 8.3% |
| 4/26/2022 | -3.7% | -1.1% | -10.8% |
| 2/1/2022 | 7.5% | 1.3% | -2.7% |
| 10/26/2021 | 5.0% | 4.4% | 4.9% |
| 7/27/2021 | 3.2% | 2.8% | 7.7% |
| 4/27/2021 | 3.0% | 0.7% | 3.9% |
| 2/2/2021 | 7.3% | 8.1% | 6.0% |
| SUMMARY STATS | |||
| # Positive | 13 | 14 | 12 |
| # Negative | 11 | 9 | 11 |
| Median Positive | 5.0% | 3.4% | 8.0% |
| Median Negative | -7.1% | -6.6% | -8.6% |
| Max Positive | 10.2% | 13.7% | 16.4% |
| Max Negative | -12.6% | -13.4% | -16.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/29/2026 | 10-Q |
| 06/30/2026 | 07/23/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/05/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/25/2025 | 10-Q |
| 12/31/2024 | 02/05/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/24/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 01/31/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 07/26/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 02/03/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/29/2026 | 10-Q |
| 06/30/2026 | 07/23/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/05/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/25/2025 | 10-Q |
| 12/31/2024 | 02/05/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/24/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 01/31/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 07/26/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 02/03/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| 06/30/2022 | 07/27/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
| 12/31/2021 | 02/02/2022 | 10-K |
| 09/30/2021 | 10/27/2021 | 10-Q |
| 06/30/2021 | 07/28/2021 | 10-Q |
| 03/31/2021 | 04/28/2021 | 10-Q |
| 12/31/2020 | 02/03/2021 | 10-K |
| 09/30/2020 | 10/30/2020 | 10-Q |
| 06/30/2020 | 07/31/2020 | 10-Q |
| 03/31/2020 | 04/29/2020 | 10-Q |
| 12/31/2019 | 02/04/2020 | 10-K |
Insider Activity
Updated 10/30/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Arnold, Frances | Direct | Sell | 10302026 | 284.00 | 82 | 23,288 | 5,440,588 | Form | |
| 2 | Arnold, Frances | Direct | Sell | 10022026 | 340.45 | 83 | 28,257 | 6,494,424 | Form | |
| 3 | Arnold, Frances | Direct | Sell | 8312026 | 337.71 | 82 | 27,692 | 6,414,801 | Form | |
| 4 | Saraci, Marsida | VP, Chief Accounting Officer | Direct | Sell | 7292026 | 333.20 | 449 | 149,607 | 9,125,015 | Form |
| 5 | Walker, John Kent | President, Global Affairs, CLO | Arete Trust, John Kent Walker and Diana Ruth Walsh, Trustees | Sell | 7012026 | 349.29 | 8,998 | 3,142,916 | 26,298,079 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Arnold, Frances | Direct | Sell | 10302026 | 284.00 | 82 | 23,288 | 5,440,588 | Form | |
| 2 | Arnold, Frances | Direct | Sell | 10022026 | 340.45 | 83 | 28,257 | 6,494,424 | Form | |
| 3 | Arnold, Frances | Direct | Sell | 8312026 | 337.71 | 82 | 27,692 | 6,414,801 | Form | |
| 4 | Saraci, Marsida | VP, Chief Accounting Officer | Direct | Sell | 7292026 | 333.20 | 449 | 149,607 | 9,125,015 | Form |
| 5 | Walker, John Kent | President, Global Affairs, CLO | Arete Trust, John Kent Walker and Diana Ruth Walsh, Trustees | Sell | 7012026 | 349.29 | 8,998 | 3,142,916 | 26,298,079 | Form |
| 6 | Arnold, Frances | Direct | Sell | 6302026 | 351.28 | 112 | 39,343 | 6,615,656 | Form | |
| 7 | Saraci, Marsida | VP, Chief Accounting Officer | Direct | Sell | 6292026 | 341.72 | 449 | 153,432 | 9,345,359 | Form |
| 8 | Hennessy, John L | Trust | Sell | 6172026 | 368.63 | 1,050 | 387,063 | 545,944 | Form | |
| 9 | Arnold, Frances | Direct | Sell | 6012026 | 381.00 | 102 | 38,862 | 7,132,701 | Form | |
| 10 | Hennessy, John L | Trust | Sell | 5192026 | 393.26 | 1,050 | 412,920 | 995,333 | Form | |
| 11 | Arnold, Frances | Direct | Sell | 5012026 | 371.00 | 102 | 37,842 | 6,908,391 | Form | |
| 12 | Hennessy, John L | Trust | Sell | 4172026 | 331.65 | 1,050 | 348,232 | 1,187,638 | Form | |
| 13 | O'Toole, Amie Thuener | VP, Chief Accounting Officer | Direct | Sell | 4032026 | 289.63 | 617 | 178,702 | 2,923,236 | Form |
| 14 | Arnold, Frances | Direct | Sell | 3312026 | 275.19 | 102 | 28,069 | 5,040,380 | Form | |
| 15 | Walker, John Kent | President, Global Affairs, CLO | Arete Trust, John Kent Walker and Diana Ruth Walsh, Trustees | Sell | 3312026 | 275.89 | 8,993 | 2,481,117 | 14,293,529 | Form |
| 16 | Pichai, Sundar | Chief Executive Officer | Direct | Sell | 3182026 | 307.89 | 32,500 | 10,006,385 | 505,571,844 | Form |
| 17 | Hennessy, John L | Trust | Sell | 3182026 | 303.41 | 1,050 | 318,579 | 1,405,084 | Form | |
| 18 | Pichai, Sundar | Chief Executive Officer | Direct | Sell | 3062026 | 303.38 | 32,500 | 9,859,694 | 508,019,980 | Form |
| 19 | O'Toole, Amie Thuener | VP, Chief Accounting Officer | Direct | Sell | 3042026 | 298.00 | 955 | 284,590 | 2,955,564 | Form |
| 20 | Arnold, Frances | Direct | Sell | 3042026 | 302.99 | 112 | 33,935 | 5,580,470 | Form | |
| 21 | Walker, John Kent | President, Global Affairs, CLO | Arete Trust, John Kent Walker and Diana Ruth Walsh, Trustees | Sell | 2192026 | 301.45 | 47,574 | 14,341,414 | 3,987,344 | Form |
| 22 | Hennessy, John L | Trust | Sell | 2172026 | 306.73 | 600 | 184,037 | 6,325,958 | Form | |
| 23 | Pichai, Sundar | Chief Executive Officer | Direct | Sell | 2062026 | 335.18 | 32,500 | 10,893,259 | 730,475,777 | Form |
| 24 | O'Toole, Amie Thuener | VP, Chief Accounting Officer | Direct | Sell | 2032026 | 336.55 | 933 | 314,001 | 3,337,230 | Form |
| 25 | Arnold, Frances | Direct | Sell | 1302026 | 340.00 | 102 | 34,680 | 6,224,380 | Form | |
| 26 | Pichai, Sundar | Chief Executive Officer | Direct | Sell | 1232026 | 327.30 | 32,500 | 10,637,368 | 723,953,713 | Form |
| 27 | Hennessy, John L | Trust | Sell | 1152026 | 337.52 | 600 | 202,514 | 7,163,589 | Form | |
| 28 | Arnold, Frances | Direct | Sell | 12312025 | 313.45 | 102 | 31,972 | 5,706,357 | Form | |
| 29 | Walker, John Kent | President, Global Affairs, CLO | Arete Trust, John Kent Walker and Diana Ruth Walsh, Trustees | Sell | 12302025 | 314.89 | 17,829 | 5,614,095 | 13,531,264 | Form |
| 30 | Pichai, Sundar | Chief Executive Officer | Direct | Sell | 12172025 | 299.80 | 32,500 | 9,743,373 | 671,429,024 | Form |
| 31 | Hennessy, John L | Trust | Sell | 12172025 | 308.19 | 600 | 184,915 | 1,206,876 | Form | |
| 32 | O'Toole, Amie Thuener | VP, Chief Accounting Officer | Direct | Sell | 12172025 | 312.30 | 2,778 | 867,569 | 2,798,833 | Form |
| 33 | Pichai, Sundar | Chief Executive Officer | Direct | Sell | 12052025 | 319.50 | 32,500 | 10,383,861 | 725,949,752 | Form |
| 34 | O'Toole, Amie Thuener | VP, Chief Accounting Officer | Direct | Sell | 12022025 | 317.00 | 954 | 302,418 | 3,721,580 | Form |
| 35 | Arnold, Frances | Direct | Sell | 12022025 | 317.66 | 102 | 32,401 | 5,750,917 | Form | |
| 36 | Pichai, Sundar | Chief Executive Officer | Direct | Sell | 11212025 | 296.64 | 32,500 | 9,640,679 | 683,633,620 | Form |
| 37 | O'Toole, Amie Thuener | VP, Chief Accounting Officer | Direct | Sell | 11182025 | 288.26 | 2,778 | 800,777 | 3,383,845 | Form |
| 38 | Hennessy, John L | Trust | Sell | 11172025 | 280.06 | 600 | 168,034 | 1,264,737 | Form | |
| 39 | Pichai, Sundar | Chief Executive Officer | Direct | Sell | 11072025 | 283.48 | 32,500 | 9,212,980 | 662,517,872 | Form |
| 40 | O'Toole, Amie Thuener | VP, Chief Accounting Officer | Direct | Sell | 11042025 | 282.33 | 954 | 269,343 | 4,098,585 | Form |
| 41 | Arnold, Frances | Direct | Sell | 11032025 | 291.80 | 112 | 32,682 | 5,253,567 | Form | |
| 42 | O'Toole, Amie Thuener | VP, Chief Accounting Officer | Direct | Sell | 10172025 | 250.05 | 2,778 | 694,651 | 3,629,789 | Form |
| 43 | Pichai, Sundar | Chief Executive Officer | Direct | Sell | 10172025 | 250.15 | 32,500 | 8,129,735 | 592,750,010 | Form |
| 44 | Hennessy, John L | Trust | Sell | 10152025 | 242.92 | 600 | 145,754 | 1,242,797 | Form | |
| 45 | O'Toole, Amie Thuener | VP, Chief Accounting Officer | Direct | Sell | 10022025 | 241.20 | 953 | 229,864 | 4,171,313 | Form |
| 46 | Pichai, Sundar | Chief Executive Officer | Direct | Sell | 10012025 | 243.41 | 32,500 | 7,910,743 | 584,693,703 | Form |
| 47 | Walker, John Kent | President, Global Affairs, CLO | Arete Trust, John Kent Walker and Diana Ruth Walsh, Trustees | Sell | 10012025 | 247.42 | 17,816 | 4,408,122 | 10,635,560 | Form |
| 48 | Arnold, Frances | Direct | Sell | 9302025 | 243.13 | 103 | 25,042 | 4,202,259 | Form |
Investor Activity (13F)
Updated Nov 1, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Himalaya Capital Management LLC | $1.4 Bil | 44.8% | 14 | Hold | 13F |
| Oriental Harbor Investment Master Fund | $425.3 Mil | 37.5% | 12 | ADD +14.6% | 13F |
| Provident Trust Co | $1.6 Bil | 33.5% | 22 | TRIM -13.3% | 13F |
| Miller Wealth Advisors, LLC | $69.6 Mil | 26.8% | 117 | Hold | 13F |
| Founders Capital Management, LLC | $158.7 Mil | 26.1% | 74 | Hold | 13F |
| Venator Management LLC | $104.9 Mil | 25.2% | 28 | Hold | 13F |
| Saybrook Capital /NC | $93.6 Mil | 25.2% | 42 | Hold | 13F |
| Headwater Capital Co Ltd | $150.8 Mil | 24.2% | 15 | TRIM -8.2% | 13F |
| Tikvah Management LLC | $77.6 Mil | 24.1% | 21 | Hold | 13F |
| ArchPoint Investors | $96.9 Mil | 23.1% | 78 | Hold | 13F |
| Violich Capital Management, Inc. | $190.9 Mil | 22.3% | 118 | Hold | 13F |
| SHANDA ASSET MANAGEMENT HOLDINGS Ltd | $402.6 Mil | 21.9% | 6 | ADD +7.7% | 13F |
| Laura & John Arnold Foundation | $93.2 Mil | 21.7% | 4 | TRIM -50.1% | 13F |
| Greenwoods Asset Management Hong Kong Ltd. | $840.1 Mil | 21.7% | 35 | ADD +8.6% | 13F |
| KEYWISE CAPITAL MANAGEMENT (HK) Ltd | $126.8 Mil | 21.4% | 10 | TRIM -65.1% | 13F |
| Bourne Lent Asset Management Inc | $57.4 Mil | 21.1% | 63 | Hold | 13F |
| Evergreen Quality Fund GP, Ltd. | $897.0 Mil | 20.5% | 40 | TRIM -30.9% | 13F |
| Greenbrier Partners Capital Management, LLC | $261.4 Mil | 20.1% | 11 | Hold | 13F |
| Fullerton Fund Management Co Ltd. | $237.8 Mil | 19.0% | 125 | TRIM -30.6% | 13F |
| Powszechne Towarzystwo Emerytalne Allianz Polska S.A. | $50.1 Mil | 18.7% | 10 | Hold | 13F |
| McMillan Office, Inc. | $146.0 Mil | 18.7% | 500 | Hold | 13F |
| Gladstone Capital Management LLP | $179.7 Mil | 18.0% | 32 | Hold | 13F |
| Rokos Capital Management LLP | $955.2 Mil | 17.0% | 127 | TRIM -19.0% | 13F |
| Nellore Capital Management LLC | $130.2 Mil | 16.6% | 11 | New | 13F |
| Aljian Capital Management, LLC | $80.6 Mil | 16.6% | 131 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Scge Management, L.P. | $461.0 Mil | 14.0% | 21 | New | 13F |
| SurgoCap Partners LP | $427.1 Mil | 14.3% | 14 | New | 13F |
| Nellore Capital Management LLC | $130.2 Mil | 16.6% | 11 | New | 13F |
| Southeast Asset Advisors, LLC | $127.8 Mil | 14.0% | 217 | New | 13F |
| MayTech Global Investments, LLC | $109.4 Mil | 13.3% | 23 | New | 13F |
| Trybe Capital Management LP | $71.7 Mil | 16.2% | 6 | New | 13F |
| Pinpoint Asset Management (Singapore) Pte. Ltd. | $66.9 Mil | 15.7% | 144 | New | 13F |
| Jupiter Wealth Management LLC | $39.7 Mil | 15.7% | 90 | New | 13F |
| Oriental Harbor Investment Master Fund | $425.3 Mil | 37.5% | 12 | ADD +14.6% | 13F |
| Greenwoods Asset Management Hong Kong Ltd. | $840.1 Mil | 21.7% | 35 | ADD +8.6% | 13F |
| SHANDA ASSET MANAGEMENT HOLDINGS Ltd | $402.6 Mil | 21.9% | 6 | ADD +7.7% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | As Of | Filing |
|---|---|---|---|---|---|---|
| Troy Asset Management Ltd | $588.3 Mil | 15.2% | 31 | Exited | Dec 31, 2025 | 13F |
| Himension Capital (Singapore) PTE. LTD. | $400.8 Mil | 24.7% | 95 | Exited | Dec 31, 2025 | 13F |
| Trivest Advisors Ltd | $355.7 Mil | 16.2% | 30 | Exited | Dec 31, 2025 | 13F |
| Laurion Capital Management LP | $241.4 Mil | 16.5% | 230 | Exited | Dec 31, 2025 | 13F |
| Turiya Advisors Asia Ltd | $225.8 Mil | 34.6% | 5 | Exited | Dec 31, 2025 | 13F |
| DV Trading LLC | $203.3 Mil | 17.6% | 995 | Exited | Dec 31, 2025 | 13F |
| Anatole Investment Management Ltd | $110.1 Mil | 18.4% | 15 | Exited | Dec 31, 2025 | 13F |
| TB Alternative Assets Ltd. | $98.2 Mil | 16.1% | 50 | Exited | Dec 31, 2025 | 13F |
| General Pension Society PZU Joint Stock Co | $79.1 Mil | 16.0% | 14 | Exited | Dec 31, 2025 | 13F |
| Soros Capital Management LLC | $77.3 Mil | 20.3% | 57 | Exited | Dec 31, 2025 | 13F |
| Ariose Capital Management Ltd | $68.7 Mil | 23.0% | 14 | Exited | Dec 31, 2025 | 13F |
| KEYWISE CAPITAL MANAGEMENT (HK) Ltd | $126.8 Mil | 21.4% | 10 | TRIM -65.1% | Mar 31, 2026 | 13F |
| Laura & John Arnold Foundation | $93.2 Mil | 21.7% | 4 | TRIM -50.1% | Mar 31, 2026 | 13F |
| Parker Investment Management, LLC | $106.1 Mil | 16.1% | 37 | TRIM -30.9% | Mar 31, 2026 | 13F |
| Evergreen Quality Fund GP, Ltd. | $897.0 Mil | 20.5% | 40 | TRIM -30.9% | Mar 31, 2026 | 13F |
| Fullerton Fund Management Co Ltd. | $237.8 Mil | 19.0% | 125 | TRIM -30.6% | Mar 31, 2026 | 13F |
| Optimus Prime Fund Management Co., Ltd. | $144.5 Mil | 13.9% | 27 | TRIM -22.0% | Mar 31, 2026 | 13F |
| Rokos Capital Management LLP | $955.2 Mil | 17.0% | 127 | TRIM -19.0% | Mar 31, 2026 | 13F |
| Lindsell Train Ltd | $490.2 Mil | 15.6% | 27 | TRIM -18.4% | Mar 31, 2026 | 13F |
| Cryder Capital Partners LLP | $206.6 Mil | 13.5% | 10 | TRIM -17.7% | Mar 31, 2026 | 13F |
| Manitou Investment Management Ltd. | $68.1 Mil | 13.5% | 52 | TRIM -16.3% | Mar 31, 2026 | 13F |
| Gobi Capital LLC | $247.9 Mil | 14.5% | 10 | TRIM -15.9% | Mar 31, 2026 | 13F |
| East Coast Asset Management, LLC. | $49.2 Mil | 16.2% | 68 | TRIM -15.0% | Mar 31, 2026 | 13F |
| Penn Davis Mcfarland Inc | $155.2 Mil | 15.2% | 75 | TRIM -14.7% | Mar 31, 2026 | 13F |
| Monolith Management Ltd | $40.2 Mil | 15.7% | 31 | TRIM -13.8% | Mar 31, 2026 | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Tiger Global Management LLC | $3.1 Bil | 13.4% | 54 | Hold | 13F |
| Provident Trust Co | $1.6 Bil | 33.5% | 22 | TRIM -13.3% | 13F |
| Himalaya Capital Management LLC | $1.4 Bil | 44.8% | 14 | Hold | 13F |
| Rokos Capital Management LLP | $955.2 Mil | 17.0% | 127 | TRIM -19.0% | 13F |
| Evergreen Quality Fund GP, Ltd. | $897.0 Mil | 20.5% | 40 | TRIM -30.9% | 13F |
| Ruane, Cunniff & Goldfarb L.P. | $881.6 Mil | 14.6% | 50 | TRIM -7.5% | 13F |
| Greenwoods Asset Management Hong Kong Ltd. | $840.1 Mil | 21.7% | 35 | ADD +8.6% | 13F |
| Lindsell Train Ltd | $490.2 Mil | 15.6% | 27 | TRIM -18.4% | 13F |
| Scge Management, L.P. | $461.0 Mil | 14.0% | 21 | New | 13F |
| SurgoCap Partners LP | $427.1 Mil | 14.3% | 14 | New | 13F |
| Oriental Harbor Investment Master Fund | $425.3 Mil | 37.5% | 12 | ADD +14.6% | 13F |
| SHANDA ASSET MANAGEMENT HOLDINGS Ltd | $402.6 Mil | 21.9% | 6 | ADD +7.7% | 13F |
| Greenbrier Partners Capital Management, LLC | $261.4 Mil | 20.1% | 11 | Hold | 13F |
| Gobi Capital LLC | $247.9 Mil | 14.5% | 10 | TRIM -15.9% | 13F |
| Fullerton Fund Management Co Ltd. | $237.8 Mil | 19.0% | 125 | TRIM -30.6% | 13F |
| Cryder Capital Partners LLP | $206.6 Mil | 13.5% | 10 | TRIM -17.7% | 13F |
| Violich Capital Management, Inc. | $190.9 Mil | 22.3% | 118 | Hold | 13F |
| Gladstone Capital Management LLP | $179.7 Mil | 18.0% | 32 | Hold | 13F |
| Founders Capital Management, LLC | $158.7 Mil | 26.1% | 74 | Hold | 13F |
| Penn Davis Mcfarland Inc | $155.2 Mil | 15.2% | 75 | TRIM -14.7% | 13F |
| Headwater Capital Co Ltd | $150.8 Mil | 24.2% | 15 | TRIM -8.2% | 13F |
| McMillan Office, Inc. | $146.0 Mil | 18.7% | 500 | Hold | 13F |
| Optimus Prime Fund Management Co., Ltd. | $144.5 Mil | 13.9% | 27 | TRIM -22.0% | 13F |
| Nellore Capital Management LLC | $130.2 Mil | 16.6% | 11 | New | 13F |
| Jia Investment Alliance PTE. LTD. | $129.1 Mil | 13.5% | 24 | TRIM -9.5% | 13F |
GOOGL Trade Sentinel
Constructive
CONVICTION RATIONALE
Alphabet's AI pivot is showing powerful results, with Google Cloud revenue growth accelerating to 103% and a $561 billion backlog confirming future demand. While the required capital investment of over $195 billion in 2026 pressures near-term cash flow, the overwhelming demand signals this spending is capturing a durable, long-term revenue stream, creating a compelling entry point after the recent stock decline.
STOCK ARCHETYPE
Diversified Tech Platform(User/Customer Base) x (Engagement/Usage) x (Monetization Rate per Unit) The high-margin advertising business within Google Services, which benefits from immense scale and established infrastructure.
INVESTMENT THESIS
Evidence suggests yes. The company is successfully monetizing its massive AI infrastructure buildout, creating a hyper-growth cloud business alongside a reinvigorated search franchise.
- Google Cloud revenue growth accelerated to 103% year-over-year in Q3 2026.
- The Google Cloud backlog of future contracted revenue reached $561 billion.
- Core Search is experiencing its highest year-over-year query growth rate in 5 years.
- Google Cloud's operating margin expanded to 36.2% in Q3 2026.
- The company has surpassed 150 million YouTube Music and Premium subscribers.
PRIMARY RISK
The risk is that unprecedented capital spending, guided at $195 billion to $205 billion for 2026 and rising 'significantly' in 2027, fails to generate adequate returns, leading to sustained negative free cash flow and value destruction.
- Full-year 2026 capital expenditure is guided to be $195 billion to $205 billion.
- Capital expenditures are expected to 'increase significantly' in 2027.
- The company reported negative free cash flow of $9.1 billion in Q3 2026.
- Management guided to near-term Cloud margin headwinds from using third-party capacity.
- Operating expenses grew 24.7% year-over-year, outpacing revenue growth of 22.2%.
| KPI | Status | Rationale |
|---|---|---|
| Google Cloud Revenue Growth | 103% year-over-year growth for Q3 2026 - Accelerating | Google Cloud's revenue growth has shown significant and consistent acceleration over the past three quarters. Management attributes this to strong demand for its entire AI portfolio, including infrastructure, solutions, and core GCP services, with sales of TPU systems also being a meaningful contributor. |
| Google Cloud Backlog | $560.8 billion as of September 30, 2026 - Accelerating | The backlog, representing future contracted revenue, has grown substantially each quarter in 2026. Management notes the majority of the backlog relates to typical GCP contracts, indicating broad-based demand beyond one-off hardware sales. The company expects to recognize just over 55% of the backlog as revenue over the next 24 months. |
| Query Growth | Highest year-over-year query growth rate in the last 5 years (Q3 2026) | Measures user engagement with the core Search product. Strong growth indicates that AI-powered features are increasing usage, which is the foundation for the advertising business. |
| YouTube Music and Premium Subscribers | 150 million (including trials) (Q3 2026) | Tracks the growth of the consumer subscription business, a key source of recurring, non-advertising revenue. |
AI Investment: Profitable Growth Engine or Cash-Burning Arms Race?
BULL VIEW
Bulls see the massive spending as necessary to capture a generational AI opportunity, validated by the $561 billion Cloud backlog and management's expectation for attractive returns on investment.
CORE TENSION
Can the leading indicator of a $561 billion Cloud backlog overcome the lagging indicator of a negative $9.1 billion quarterly free cash flow?
PREVAILING SENTIMENT
The latest evidence favors the bulls. The backlog is a forward-looking, multi-year commitment from customers, while the negative cash flow is a direct, temporary result of building capacity to serve that demand.
BEAR VIEW
Bears see a company destroying value, pointing to Q3's negative $9.1 billion free cash flow and margin headwinds as proof that the cost of AI growth is uneconomical.
| Timeline | Event & Metric To Watch |
|---|---|
no later than December 1, 2026 | Litigation Development Watch: Court filings and press releases related to the lead plaintiff appointment and subsequent stages of the class action lawsuit. |
no later than December 1, 2026 | Securities Lawsuit Deadline Watch: A securities class action lawsuit has a lead plaintiff deadline of December 1, 2026. |
1/18/2027 | Netflix Earnings Report Watch: Peer Netflix (NFLX) is scheduled to report earnings on January 18, 2027. |
1/26/2027 | Competitive AI Narrative Watch: Azure and AWS revenue growth rates, AI service adoption metrics, and capital spending plans from Microsoft and Amazon. |
1/27/2027 | Apple Earnings Report Watch: Peer Apple (AAPL) is scheduled to report earnings on January 27, 2027. |
2/2/2027 | Cloud Margin Compression Watch: Google Cloud operating margin in the Q4 report and any revision to the margin outlook for 2027. |
2/2/2027 | Capital Expenditure Shock Watch: The magnitude of the 2027 CapEx guidance provided on the Q4 earnings call and the justification for it. |
2/2/2027 | Alphabet Q4 Earnings Watch: Alphabet is scheduled to report its next earnings on February 2, 2027. |
| Date | Event | Stock Impact |
|---|---|---|
2026-10-28 | Severe Q3 Earnings Reaction Details: Following the Q3 earnings call on October 28, 2026, the stock had a two-day negative reaction of -11.0%, significantly underperforming the S&P 500. | -11.5% $320.58 -> $283.82 |
2026-10-09 | Securities Lawsuit Filed Details: A law firm announced a class action lawsuit on behalf of securities purchasers between May 19, 2026 and July 16, 2026, alleging misleading statements about Gemini 3.5 Pro. | +1.3% $348.29 -> $352.72 |
2026-08-26 | Analyst Reaffirms Price Target Details: A Wall Street analyst at Citizens expected the stock to rally to a new all-time high over the next 12 months, according to a news report. | -1.8% $346.74 -> $340.43 |
2026-07-22 | Negative Q2 Earnings Reaction Details: The stock had a two-day negative reaction of -8.0% around the Q2 earnings call on July 22, 2026, underperforming the S&P 500's -1.0% move. | -8.5% $346.93 -> $317.49 |
2026-06-18 | Berkshire Hathaway Increases Stake Details: News reports in June indicated that Berkshire Hathaway nearly tripled its Alphabet stake to about 57.8 million shares worth $16.6 billion, and invested an additional $10 billion via a private purchase. | -3.9% $363.56 -> $349.46 |
2026-05-03 | Data Center Power Concerns Details: A data center expert warned in a news report that gigawatt-scale AI buildouts could potentially trigger rolling blackouts, highlighting infrastructure strain from the industry's expansion. | -0.4% $384.32 -> $382.78 |
Position Sizing
4% - 6%
NORMAL POSITION
Sizing is volatility-based: GOOGL trades at roughly 37% annualized realized (three-month) volatility versus about 10% for the S&P 500 (3.6x the market). A 4% - 6% position keeps a single-name swing of that size within a diversified portfolio's risk budget.
Diversification Alternatives
MSFT - Microsoft
Enterprise AI PlatformMicrosoft leverages its deep incumbency in enterprise software as a powerful distribution channel for its integrated Azure cloud and AI platform, creating high switching costs for corporate customers.
AMZN - Amazon.com
Cloud Infrastructure LeaderAmazon.com's AWS combines its first-mover scale in cloud infrastructure with a strong focus on price-performance, appealing to customers prioritizing cost-effective compute for building AI applications.
Alphabet is an AI infrastructure company monetizing its massive compute investments and frontier models through a vast consumer ecosystem and a rapidly accelerating enterprise cloud business.
The company is in a period of intense capital investment to build out the infrastructure for the AI era. This investment is fueling record growth in its Google Cloud segment, which is winning large enterprise deals for its integrated AI stack. Simultaneously, these AI investments are reinvigorating growth in the core Search business by driving the highest query growth in five years, creating a dual-engine growth story.
Continued acceleration in Google Cloud revenue and backlog, evidence of successful monetization of new AI features in Search, and sustained high query growth.
A deceleration in Cloud growth, margin compression from third-party capacity costs, or signs that massive CapEx is not translating into commensurate revenue growth or market share gains.
Short-term stock price fluctuations, class-action lawsuits mentioned in October news reports that often follow stock drops, and competitor model announcements that do not materially impact customer adoption trends.
Repricing Catalyst
The market's re-evaluation of Alphabet's competitive position in AI. After a period where the stock was priced 'like a loser' in the AI race according to an October news report, the recent strong acceleration in Cloud growth and AI-driven query growth is forcing a reassessment of its leadership and monetization capabilities.
Google Services
$376.3B TTM (80% of Total) · 42% MarginWhat It Is
This segment sells advertising services to millions of businesses, and sells consumer subscriptions, apps, in-app purchases, and hardware devices to the general public. Core products include Google Search, YouTube ads, Android, Chrome, and Pixel devices.
Who Pays & How
Advertisers pay to connect with users and drive measurable results through performance and brand advertising. Consumers pay for premium content experiences (YouTube Premium), enhanced cloud storage and AI features (Google One), and integrated hardware (Pixel).
Competition
Google Cloud
$93.2B TTM (20% of Total) · 34% MarginWhat It Is
This segment sells enterprise-grade cloud services, including infrastructure (GCP), collaboration tools (Google Workspace), and AI platforms (Gemini Enterprise), to businesses of all sizes.
Who Pays & How
Enterprises pay for cloud services to migrate and modernize their IT systems, build and deploy applications, analyze data, and leverage AI. Customers choose Google Cloud for its AI-optimized infrastructure, including custom TPUs, and its integrated AI portfolio.
Competition
Other Bets
$1.5B TTM (0% of Total) · -623% MarginWhat It Is
This segment comprises a portfolio of early-stage businesses at various stages of development, including autonomous driving technology (Waymo) and life sciences research (Isomorphic Labs).
Who Pays & How
Customers pay for services such as fully autonomous, paid ride-hailing services from Waymo. Revenue is also generated from the sale of internet services.
Competition
Alphabet — Investor Video Playlist
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Interactive Media & Services Resources |
| Social Media Today |
| Search Engine Land |
| Nieman Journalism Lab |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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