Is Google's Stock A Buy? Exploring The Future Of The Tech Giant's Revenue Sources, Investments In AI, And Recent Price Movements

ZINGER KEY POINTS

• Google is a top internet stock pick for 2023, with search, ads, and cloud as major revenue sources.
• Google is investing in AI and machine learning for the future.
• Google's stock hit an all-time high in Jan 2022, but has dropped 38% since, and its future peak is uncertain.

As one of the most recognizable brands on earth, Alphabet Inc Class A GOOGL is a force to be reckoned with. From search engines and advertising platforms to cloud services, this tech titan offers something meaningful for virtually everyone!

Goldman Sachs recently named Google one of the top internet stocks to own in 2023 and is bullish on Google's future. They predict that search and advertising will continue to be significant moneymakers for Google but are opting to be particularly bullish on their cloud business, expanding into a formidable force within the industry. With solid fundamentals across all the company's divisions and diverse sources bringing in revenue, it's clear why they think Google has plenty of potentials ahead!

Google has quite the heritage of pushing boundaries- after all, they've been inventing some incredible products since way back. From Android to Gmail and even those helpful Maps - we owe a lot to them! In recent years though, their focus appears set on the future, investing in artificial intelligence and machine learning technologies that could really bring home the bacon come 2023 when these cutting-edge inventions become commonplace in most of our homes and businesses.

After carefully considering the big institutes' fundamentals and opinions, when it's time to make a move in the market, ultimately selecting which stocks will yield maximum profits for investors comes down to one key factor: the stock price.

Let us take a deep dive into this stock's price movement and consider if there are potential big moves on the horizon.

Google's stock reached an all-time high of $151.55 in January 2022, valuing the company at astonishingly over $3000 pre-stock split! The split happened six months later, with a 20:1 ratio to make it more accessible for retail investors.

Since setting the record high, price for this stock has been on a downward trajectory over several months, dropping 38% to date. It remains uncertain if or when the former peak will be surpassed again.

Despite a drastic reduction in Google's stock price, investors weren't convinced to take the plunge on this tech giant.

With the stock price consolidating between a low of $83.34 and a high of $108.18, investors must have patience if considering investing in Google. Movements may take months or years to show any substantial gains! A break above this range will indicate where directionality is heading; it's up to you as an investor whether you can wait for that opportunity! Do you have the patience to wait?

After the closing bell on Friday, March 10, the stock closed at $90.63, trading down by -1.83%.