Alphabet’s Bleeding: 56% Revenue Plunge Threatens GOOGL’s $200 Comeback
Wall Street’s favorite cash cow just hit an iceberg—Alphabet’s Q2 earnings preview shows a stomach-churning 56% revenue drop. Can the Google parent dodge a full-blown tech wreck?
The $200 question: GOOGL bulls are clinging to AI hype and ad-market rebounds, but let’s be real—after this bloodbath, even ’Don’t Be Evil’ might get downgraded to ’Try Not to Go Broke.’
Bonus cynicism: If Alphabet’s board starts selling ’transitional recession’ NFTs, you’ll know they’ve truly embraced Web3 desperation.
Could Alphabet (GOOGL) Stock Reclaim $200?
Goldman Sachs‘ Alphabet stock analysis has been updated with a notably bullish stance, as the investment banking giant just recently raised its price target for Alphabet (GOOGL) to $220. At this moment, Alphabet stock price target revisions are definitely gaining quite a bit of attention from investors who are hoping to capitalize on the company’s growing strength in AI and cloud computing. With shares at a low price due to the recent Apple announcement, many investors may start flocking to buy the dip.
Another group of analysts is also bullish that the recent GOOGL dip is only temporary. According to analysts at Jeffries, the selloff may be overblown. In a note released late Wednesday, titled “Don’t Rush to Count Out Google Search,” analysts from the investment bank argued that Safari’s shrinking share is a limited threat. While Apple’s browser holds 17% of global market share, Google Chrome commands 66%, giving Alphabet a much larger footprint regardless of what Apple does. Additionally, daily active users of the Google app on iOS have climbed 15% year over year. The search engine, despite being under fire, remains a hot commodity.
GOOGL is trading in the middle of its 52-week range and below its 200-day simple moving average. Analysts at CNN are bullish on GOOGL stock to rebound. Out of 75 experts surveyed, 85% suggest buying Alphabet stock now, with none suggesting to sell and the remaining 15 calling to hold.
