Alphabet Inc (NASDAQ:GOOGL) faces regulatory challenges in India but maintains strong financial performance.
The company reported a 15% increase in revenue and operating margins at an all-time high in Q3 2024.
Despite slight fluctuations, Alphabet’s stock is considered a strong buy, with a market capitalization of approximately $2.08 trillion.
On November 25, 2024, Marjorie Taylor Greene made a purchase of Alphabet Inc (NASDAQ:GOOGL) shares. Alphabet, the parent company of Google, is a major player in the tech industry, known for its search engine, advertising services, and various digital products. It competes with other tech giants like Microsoft and Amazon.
Alphabet is currently facing regulatory challenges. India’s competition watchdog is investigating Google’s policies on real-money gaming apps, following a complaint from WinZO. This probe examines whether Google’s policies are restrictive and discriminatory, impacting the gaming industry in India. Despite these challenges, Alphabet’s financial performance remains strong.
In the third quarter of 2024, Alphabet reported a 15% increase in revenue compared to the previous year, with operating margins reaching an all-time high. The Department of Justice’s proposed antitrust remedies, including the potential divestiture of Chrome, have put pressure on Google’s stock. However, the likelihood of divesting Chrome is low, with softer remedies more probable.
Alphabet’s stock has seen slight fluctuations. GOOGL experienced a minor decrease of 0.06%, while GOOG showed a slight increase of 0.06% in pre-market prices as of November 26, 2024. The current stock price of GOOGL is $169.23, with a trading range today between $168.02 and $169.48. The market capitalization is approximately $2.08 trillion.
Despite regulatory pressures, Alphabet remains a strong buy, as highlighted by Seeking Alpha. The stock’s recent performance and market position suggest it might be undervalued, prompting investors to consider its potential. With a trading volume of 19,236,490 shares on the NASDAQ, GOOGL continues to attract attention from investors.
