Alphabet Class C ( (GOOG) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Alphabet Class C, the parent company of Google, is set to announce its Q3 results on October 29, with high expectations from analysts and investors. Scotiabank analyst Nat Schindler has increased his price target for Alphabet’s stock, citing strong growth in the Google Cloud Platform and a recovery in its advertising business. Notably, YouTube’s ad monetization for Shorts is nearing the same level as traditional videos, thanks to AI-driven marketing. The company’s new Ironwood TPU chip also shows promising improvements, potentially closing the efficiency gap with Nvidia’s chips.
In addition to these developments, Alphabet is making a significant €5 billion investment in its cloud and AI infrastructure in Belgium, which will expand data centers and create 300 new jobs. This move aligns with Alphabet’s broader strategy to enhance its AI and cloud capabilities globally, with similar investments planned in other regions. Wall Street maintains a strong buy consensus on Alphabet’s stock, reflecting confidence in the company’s growth prospects, especially as its stock has risen over 32% year-to-date.