Alphabet Inc. (NASDAQ-GOOGL) is an American multinational corporation headquartered in Mountain View, California, USA. Alphabet Inc. was formed through the restructuring of Google LLC on 2 October 2015 and became the parent company. Mr. Larry Page is the founder and CEO of the company and Mr. Sergey Brin is the Chairman of the company. This new portfolio in Alphabet Inc. includes several sectors including technology, life sciences, investment capital and research. The Google segment includes internet products such as : search, ads, commerce, maps, YouTube, Google Cloud, Android, Chrome and Google Play. The Google segment engages in advertising, digital content sales, applications and cloud offerings, and hardware product sales. The Other Offerings segment engages in the sale of Internet and television services through Google Fiber, the sale of Nest products and services, and the provision of licensing and research and development services through Verily. It offers Google Assistant, which allows users to text or communicate with Google. The company also has a Google Maps navigation service, and a Google Photos app that helps users store and organize all their photos.
Three weeks ago, Google had a big day in Washington. US President Biden signed an executive agreement in the area of guarantees for the artificial intelligence industry that could affect Google’s most important projects. The company also received an award for its work and contribution in helping Ukrainian refugees and promoting women’s economic security from US Secretary of State, Antony J. Blinken. The company also had a recent thrilling event in court, when Google CEO Sundar Pichai spent nearly a full day in federal court just three miles from the White House defending Google against claims that it has crushed competitors in the search and online advertising markets. That fact caused shareholders to sell shares of just parent company Alphabet Inc (NASDAQ-GOOGL) in a big way, with the stock price plunging to as low as $100 a share. This did not last long, and shareholders took advantage of the low share price to buy back the stock. Thanks to this fact, the stock gained strong growth and got into a bullish trend that continues to last.
Also on Tuesday, October 24, 2023, Alphabet Inc. released earnings results for the third quarter of this year in which it beat analysts’ expectations. The company generated total revenue of $76.693 billion with a year-over-year growth of 9.68%. The company’s net profit increased by 41.54% to USD 19.689 billion. These facts have attracted the attention of private investors and multinational investment corporations to buy shares of Alphabet Inc (NASDAQ-GOOGL) , for which the average target price for the short- to medium-term investment horizon has been set at $152.77 per share.
