πππMy Top pick for Group C is $Alphabet(GOOGL)$
Alphabet's share price has recently been on an uptrend in the last month, having jumped 16%. However it is down 31% year to date. This is due to a broad sell off in technology shares. The tech heavy S&P500 has lost 20% of its value in 2022.
Alphabet reported earnings for 3Q22 with profits slipping amid what CEO Sundar Pichai called "economic headwinds".
In the most recent Q3 announcement, Alphabet is sharpening its focus on its Search and Cloud, powered by AI and new ways to monetise YouTube Shorts.
Even though Alphabet reported disappointing 3Q22 results due to a strong US dollar and increasing hesitancy in ad spending, I believe that advertising revenue growth will return to double digits levels in the years ahead. Another growth driver is Google Cloud. Alphabet was a late entrant to Cloud Computing unlike Amazon which had a 6 year headstart. But with laser focus on this sector, Alphabet will power its way ahead.
For 3Q22 Alphabet posted revenue of USD 69.1 billion and a net income of USD 13.9 billion. Google Cloud's revenue is up a massive 38%. Alphabet grew its cloud revenue from Q2 to Q3 by the same amount - USD 600 million as Microsoft. Since Microsoft's cloud business overall is 4 times larger than Google Cloud, that is an extraordinary achievement for Alphabet.
When Alphabet completed a 20 for 1 stock split in July 15 this year, it is paving the way for Alphabet to enter the prestigious Dow Jones Industrial Average.
Alphabet has also repurchased USD 15.39 billion of its GOOGL stock in Q322 which will add further value to its shareholders.
I am bullish on Alphabet as I believe its growth story is not over by a long shot. I use the Google search engine umpteen times a day and watched its YouTube videos very frequently. So that is why I pick Alphabet as the Top stock for Group C.
@MillionaireTiger @TigerStars @CaptainTiger @Tiger_chat
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very attractive at the current graph movement! [Like] @koolgal thanks for sharing!