Alphabet Stock (NASDAQ:GOOGL): AI Innovation Warrants a Higher Multiple
Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) stock has performed well but still hasn’t been the most magnificent of the so-called Magnificent Seven group over the past year. The artificial intelligence (AI) rally is still going strong into 2024, and though Alphabet has big AI innovation projects (perhaps better than some rivals), the stock still hasn’t been able to drive a great deal of multiple expansion in recent years. At writing, shares of GOOGL go for a very reasonable 22.2 times forward price-to-
Source: yahoo.com