Alphabet Stock (NASDAQ:GOOGL), Trade Ideas

Alphabet

Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary. Google services account for nearly 90% of Alphabet's revenue, of which more than 85% is from online ads. Other Google services revenue is from sales of apps and content on Google Play and YouTube, as well as sales of hardware such as Chromebooks, the Pixel smartphone, and smart home products, which include Nest and Google Home. Google's cloud computing offerings account for a bit more than 10% of total Alphabet revenue. Alphabet's moonshot investments are in its other bets segment, where it bets on technology to enhance health (Verily), provide faster internet access (Google Fiber), enable self-driving cars (Waymo), and more.

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His post came after Alphabet and Microsoft released their earnings reports, both of which exceeded analyst expectations.

Jim Cramer Says &#39;There Are Hundreds Of Articles&#39; About Apple Losing Top Spot In China: &#39;Google And Microsoft Can Barely Buy An Inch Of Ink After Some Spectacular Quarters&#39;

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Tech earnings could come to the market’s rescue as traders remain jittery about the outcome of key inflation data due on Friday.

Wall Street Futures Ride High On Microsoft, Alphabet Cheer, But Will Inflation Data Burst The Bubble? Why This Analyst Thinks Bull Run Isn&#39;t Over Yet

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Microsoft, Alphabet And 3 Stocks To Watch Heading Into Friday

Alphabet Inc

&#8220;Mad Money&#8221; host Jim Cramer pointed out the disproportionate coverage of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381758/jim-cramer-weighs-in-after-iphone-sales-reportedly-plummet-19-in-china-in-q1-anothe">&#8220;losing leadership&#8221;</a> compared to Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) post their &#8220;spectacular quarters.&#8221;
What Happened: On Friday, Cramer took to X, formerly Twitter, to express his observation. He noted the abundance of articles discussing Apple&#8217;s recent struggles with <a href="https://www.benzinga.com/markets/equities/24/03/37872817/apple-says-dangerous-doj-lawsuit-threatens-who-we-are-vows-to-fight-against-it">antitrust regulations</a> and its latest product, Vision Pro, while <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">Google</a> and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38453639/another-picasso-like-performance-top-tech-analyst-praises-satya-nadella-says-micros">Microsoft&#8217;s remarkable quarterly results</a> barely made the news.
His post came after Alphabet and Microsoft released their earnings reports, both of which exceeded analyst expectations, while Apple&#8217;s iPhone sales in China plunged.
&#8220;There are hundreds of articles about Apple losing leadership but Google and Microsoft can barely buy an inch of ink after some spectacular quarters&#8230;&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There are hundreds of articles about Apple losing leadership but Google and Microsoft can barely buy an inch of ink after some spectacular quarters&#8230;
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1783774623689011385?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Compensation While It Learns To Navigate Shipping Slump</a>
Apple&#8217;s iPhone sales in China nosedived 19.1% in the first three months of 2024, with its market share witnessing a significant decline to 15.7% from 19.7% a year ago, according to data from Counterpoint Research.
This is Apple&#8217;s worst performance since 2020, largely due to the impact of Huawei Technologies Co.'s new <a href="https://www.benzinga.com/markets/equities/24/04/38308198/apples-falling-iphone-sales-have-another-challenge-to-deal-with-as-huawei-launches-new-phones" target="_blank" rel="noreferrer noopener">product launches</a> in the premium segment. Huawei's sales surged by 70% in the same period.
Why It Matters: Wall Street is eagerly anticipating <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38378204/apple-is-a-top-stock-pick-for-2024-analyst-says-4-catalysts-to-look-for-in-next-ear">Apple&#8217;s upcoming Q2 earnings</a> report, with analysts highlighting the stock&#8217;s promising outlook. Meanwhile, <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">Microsoft</a> and Alphabet have already reported impressive Q3 and Q1 earnings, respectively, beating both top and bottom-line estimates for five consecutive quarters.
Price Action: On Thursday, Apple closed at $169.89, Alphabet Inc. at $157.95, and Microsoft at $399.04, as per<a href="https://pro.benzinga.com"> Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38384714/whats-going-on-with-trump-media-technology-stock-on-tuesday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Trump Media &amp; Technology Stock On Tuesday?</a>
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Jim Cramer Says 'There Are Hundreds Of Articles' About Apple Losing Top Spot In China: 'Google And Microsoft Can Barely Buy An Inch Of Ink After Some Spectacular Quarters'

Mizuho analyst James Lee maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Buy and raises the price target from $170 to $190.

Price Target

Mizuho Maintains Buy on Alphabet, Raises Price Target to $190

WIIM

Alphabet Board Authorized Repurchase Of Additional $70B Of Class A And Class C Shares. Also, multiple firms raised their respective price targets on the stock.

Needham analyst Laura Martin maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Buy and raises the price target from $160 to $210.

Needham Maintains Buy on Alphabet, Raises Price Target to $210

Tech earnings could come to the market&#8217;s rescue as traders remain jittery about the outcome of key inflation data due on Friday. AI giants&nbsp;Alphabet, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and&nbsp;Microsoft Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) set a positive tone for tech companies with strong performances&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more" rel="noreferrer noopener">in the first quarter</a>.
However, the focus will likely shift to the annual inflation rate, as measured by the Personal Consumption Expenditures Price Index (PCE), the Federal Reserve&#8217;s preferred gauge. This data, released as part of the personal income and spending report at 8:30 am ET, could provide a double boost to the market. A reading in line with or below expectations could help break the recent lackluster performance.
The PCE data is particularly important because the Federal Open Market Committee (FOMC), the Fed&#8217;s policy-setting arm, meets next Wednesday. The futures market currently prices in a 97% chance of the Fed holding rates steady.
 Futures Performance On Friday ( as of 6:15 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.99%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.70%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.15%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.26%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Friday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.70% to $507.02,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 0.93% to $428.40, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Past Session:
A mixed first-quarter GDP data that showed weaker growth and a rise in an inflation gauge as well as negative reactions to tech earnings sent traders on the defensive on Thursday. The major averages opened notably lower but they trimmed their losses in the session, although they ended notably lower.
Communication services stocks plunged, led lower by Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
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<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.64%</td>
<td>15,611.76</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.46%</td>
<td>5,048.42</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.98%</td>
<td>38,085.80</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.72%</td>
<td>1,981.12</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
While conceding that the strength of the bull market has waned, an analyst said he does not see the end of it.
&#8220;The end of prolonged below-average bearish sentiment and above-average bullish sentiment implies investors may be losing some confidence in the strength of this bull market,&#8221; said LPL Financial Chief Technical Strategist Adam Turnquist. Technical evidence also supported this observation, he said, adding that dip-buyers stopped showing up near the S&amp;P 500's 20-day moving average earlier this month, providing a timely signal for a deeper pullback. 
The analyst, however, said the recent shift in sentiment may not mark the end of the bull market. Technically, he sees the 4,800 area on the S&amp;P 500 as a worst-case scenario in the eventuality of a pullback. 
&#8220;Confidence for a relatively limited drawdown is supported by breadth metrics holding up well, cyclical sector leadership, limited signs of panic in credit or volatility gauges, economic resiliency, and the longer-term momentum implications of this rally,&#8221; he said.
Carson Group&#8217;s Ryan Detrick also exuded optimism, albeit for a different reason. He noted that the &#8220;sell in May and go away&#8221; adage does not apply to the presidential election years. The May-October period, which typically is a weaker period for the market, tends to do well during election years, he said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sell in May? Did you know that these &#39;worst six months&#39; tend to do quite well in an Election year? In fact, up nearly 78% of the time. <a href="https://t.co/F2FNrWk3Fw">pic.twitter.com/F2FNrWk3Fw</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1783600133482873145?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
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<figcaption class="wp-element-caption">Upcoming Economic Data:</figcaption></figure>
The Commerce Department is scheduled to release its personal income and spending report for March at 8:30 a.m. EDT. On a month-over-month basis, the metrics may have increased 0.5% and 0.7%, respectively, in March compared to the 0.3% and 0.8% growth in February.
The price consumption expenditure index is expected to rise 0.3% month-over-month and 2.6% year-over-year. This compares to the February rates of 0.3% and 2.5%, respectively. The monthly rate of the core price consumption expenditure index may have remained unchanged at 0.3% and the annual rate may have slowed from 2.8% to 2.7%.
The University of Michigan&#8217;s final consumer sentiment index for April, due at 10 a.m. EDT, is expected to show the reading remained almost unchanged from the flash reading of 77.9, but down from 79.4 in March. Trades may also focus on the inflation expectations readings of the report.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus: 
<ul>
<li>Alphabet climbed nearly 12% <a href="https://www.benzinga.com/premarket">in premarket trading </a>following its quarterly results announcement and dividend initiation and Microsoft rose a more modest 4%. Most AI-levered stocks moved in sympathy.</li>
<li>Other stocks moving on earnings are Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) (down over 10%), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) (down nearly 7.5%), Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) (down over 3%), ResMed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) (up over 11%), Skechers U.S.A., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) (up about 11.5%) and Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>) (down over 5%).</li>
<li> AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>), Autoliv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALV#NYSE">ALV</a>), AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>), Barnes Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>), Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>), Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>), Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">companies due to report their quarterly results ahead of the market open.</a></li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures rose for a second straight session, reversing their recent losses, and approached the $84-a-barrel mark, and gold futures also advanced to around $2,360 an ounce.
The 10-year note yield pulled back from Thursday&#8217;s level and yet held around the 4.68% mark.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained modestly to around the $64.3K level.
Asian stocks ended Friday&#8217;s session on a mixed note, with most rebounding from the previous session&#8217;s sell-off. The Chinese and Hong Kong markets extended their gains, while Australia and New Zealand moved lower in a catchup move after remaining closed on Thursday.&#8217;
The Bank of Japan on Friday kept its policy rate unchanged but it lowered its growth forecasts for the economy. 
Major European markets advanced in early trading, reversing from Thursday&#8217;s retreat, with the Euro STOXX 50 gaining about 0.68%.
Read Next: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38438240/feds-inflation-report-looms-this-friday-what-makes-it-so-crucial-for-markets">Fed&#8217;s Inflation Report Looms This Friday: What Makes It So Crucial For Markets?</a>
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Wall Street Futures Ride High On Microsoft, Alphabet Cheer, But Will Inflation Data Burst The Bubble? Why This Analyst Thinks Bull Run Isn't Over Yet

Citigroup analyst Ronald Josey maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Buy and raises the price target from $168 to $190.

Citigroup Maintains Buy on Alphabet, Raises Price Target to $190

Barclays analyst Ross Sandler maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Overweight and raises the price target from $173 to $200.

Barclays Maintains Overweight on Alphabet, Raises Price Target to $200

Wolfe Research analyst Deepak Mathivanan maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Outperform and raises the price target from $180 to $200.

Wolfe Research Maintains Outperform on Alphabet, Raises Price Target to $200

Bernstein analyst Mark Shmulik maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Market Perform and raises the price target from $165 to $180.

Bernstein Maintains Market Perform on Alphabet, Raises Price Target to $180

With U.S. stock futures trading higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) to report quarterly earnings at $2.20 per share on revenue of $78.35 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Exxon Mobil shares fell 0.3% to $121.00 in after-hours trading.</li>
<li>Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) posted better-than-expected earnings and sales results for its third quarter on Thursday. The company's revenue increased 17% year-over-year to $61.9 billion, which beat the consensus estimate of $60.804 billion, according to Benzinga Pro. The tech giant reported quarterly earnings of $2.94 per share, which beat analyst estimates of $2.82 per share. Microsoft shares jumped 4.4% to $416.70 in the after-hours trading session.</li>
<li>Analysts are expecting Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) to post quarterly earnings at $2.87 per share on revenue of $50.66 billion. The company will release earnings before the markets open. Chevron shares fell 0.3% to $164.85 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) posted upbeat results for its first quarter. Alphabet&#8217;s board authorized an additional share repurchase program of up to $70 billion and also announced its first-ever quarterly dividend. Alphabet shares jumped 11.5% to $176.08 in the after-hours trading session.</li>
<li>Analysts expect Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) to post quarterly earnings at $2.17 per share on revenue of $33.08 billion before the opening bell. Phillips 66 shares rose 0.3% to $157.77 in after-hours trading.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/24/04/38430578/top-3-financial-stocks-that-could-sink-your-portfolio-this-quarter">Top 3 Financial Stocks That Could Sink Your Portfolio This Quarter</a>

The recent announcement of a dividend by Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) during its <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">first-quarter earnings</a> has brought renewed attention to a warning from Peter Thiel, co-founder of PayPal Holdings Inc, about the future of the tech giant.
What Happened: Thiel, a prominent figure in the tech industry, had expressed concerns about the future of Google, now a subsidiary of Alphabet, back in 2012. He suggested that the company&#8217;s lack of technological innovation could lead to significant issues.
Thiel, speaking at an Aspen, Colorado event sponsored by Fortune magazine, said, &#8220;…Google is no longer a technology company, it&#8217;s basically a search engine. The search technology was developed a decade ago. It&#8217;s a bet that there will be no one else who will come up with a better search technology.&#8221;
&#8220;So, you invest in Google, because you&#8217;re betting against technological innovation in search. And it&#8217;s like a bank that generates enormous cash flows every year, but you can&#8217;t issue a dividend, because the day you take that $30 billion and send it back to people you&#8217;re admitting that you&#8217;re no longer a technology company,&#8221; Thiel added.
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<iframe loading="lazy" title="Thiel: Google has $50B, doesn&#039;t innovate" width="500" height="281" src="https://www.youtube.com/embed/2Q26XIKtwXQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Notably, Thiel conveyed to former Google CEO Eric Schmidt that the company lacked direction in its investment decisions.
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Spee</a>
Why It Matters: Despite Thiel&#8217;s concerns, Alphabet has been showing strong financial performance. During the <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">first quarter of 2024</a>, the company reported a 15% year-over-year increase in revenue, totaling $80.539 billion, and a quarterly earnings of $1.89 per share, beating analyst estimates. This marked the fifth consecutive quarter in which Alphabet surpassed analyst expectations on both the top and bottom lines.
Alphabet&#8217;s CEO, Sundar Pichai, has projected a combined revenue of $100 billion from the company&#8217;s YouTube and Cloud businesses by 2024, indicating a 25% growth rate for each of the next three quarters. Pichai&#8217;s forecast suggests that Alphabet is entering a new growth phase, <a href="https://www.benzinga.com/news/earnings/24/04/38450406/gene-munster-applauds-sundar-pichais-100b-revenue-projection-for-google-parent-alphabet-a-sign-of-e">as noted by</a> Gene Munster of Deepwater Asset Management.
Furthermore, Pichai has expressed confidence in Alphabet&#8217;s ability to manage the costs associated with the new search experience, including generative answers. 
This confidence is supported by the company&#8217;s strong financial performance and its commitment to AI, as evidenced by <a href="https://www.benzinga.com/news/earnings/24/04/38450926/alphabet-cfo-underscores-googles-12b-capex-surge-reflects-our-confidence-in-the-opportunities-offer">a $12 billion capital expenditure</a> announced during the first-quarter earnings call.
Price Action: Alphabet&#8217;s Class A stock rose 11.56% to $174.04, while Class C stock rose 11.43% in after-hours trading to $176.23, according to data from&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;at the time of writing
Read Next: <a href="https://www.benzinga.com/news/24/04/38424795/amazon-pauses-green-card-sponsorship-for-foreign-workers-in-2024-amid-layoffs-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Pauses Green Card Sponsorship For Foreign Workers In 2024 Amid Layoffs: Report</a>
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Global

Google Parent Alphabet's Debut Dividend Sparks Reflection On PayPal Co-Founder Peter Thiel's 2012 Warning: 'You're Admitting That You're No Longer A Technology Company'

In the recent earnings call, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) announced a significant increase in its capital expenditure, reflecting the company&#8217;s strong <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">financial performance and its commitment to AI</a>.
What Happened: Alphabet&#8217;s CFO Ruth Porat revealed a $12 billion capital expenditure during the company&#8217;s first-quarter earnings call. This substantial investment signifies the company&#8217;s confidence in the potential of AI across its business.
&#8220;Our reported capex in the first quarter was $12 billion, once again driven overwhelmingly by investment in our technical infrastructure with the largest component for servers followed by data centers. The significant year-on-year growth in capex in recent quarters reflects our confidence in the opportunities offered by AI across our business,&#8221; Porat said.
The earnings call also highlighted the company&#8217;s financial results for the first quarter. The consolidated revenues stood at $80.5 billion, marking a 15% increase year-over-year. The growth was primarily driven by the strength in search and cloud services.
Porat also underscored the impact of restructuring charges and employee severance on the total expenses. The company&#8217;s operating income saw a significant rise, reaching $25.5 billion, a 46% increase from the previous year.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38376705/doge-shiba-and-other-memecoins-fueling-mass-adoption-of-bases-l2-network-coinbase-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin, Shiba Inu And Other Memecoins Fueling Mass Adoption Of Base&#8217;s L2 Network, Coinbase Exec Says: &#8216;They Are Going To Be One Of The Biggest Drivers&#8217;</a>
Within the Google Services segment, revenues reached $70.4 billion, with Google Search and other advertising revenues contributing $46.2 billion. YouTube advertising revenues also saw a substantial increase, reaching $8.1 billion.
The Google Cloud segment reported revenues of $9.6 billion, marking a 28% increase. The Other Bets segment saw revenues of $495 million, with an operating loss of $1 billion.
Why It Matters: The first-quarter earnings call reflects Alphabet&#8217;s strong financial performance and its strategic focus on AI. The company&#8217;s CEO, Sundar Pichai, had earlier <a href="https://www.benzinga.com/news/earnings/24/04/38450406/gene-munster-applauds-sundar-pichais-100b-revenue-projection-for-google-parent-alphabet-a-sign-of-e">projected a combined revenue</a> of $100 billion from its YouTube and Cloud businesses by 2024, indicating a new growth phase for the company.
Moreover, Pichai has expressed confidence in the company&#8217;s ability to manage the costs associated with the <a href="https://www.benzinga.com/news/24/04/38450393/alphabet-ceo-very-very-confident-that-it-wont-be-costly-to-serve-search-experience-with-generative-a">new search experience</a>, including generative answers. This indicates Alphabet&#8217;s commitment to innovation and its readiness to capitalize on the potential of AI.
Price Action: Alphabet's Class A stock rose 11.56% to $174.04, while Class C stock rose 11.43% in after-hours trading to $176.23, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> at the time of writing
Read Next: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Compensation While It Learns To Navigate Shipping Slump</a>
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Large Cap

Alphabet CFO Underscores Google's $12B Capex Surge: 'Reflects Our Confidence In The Opportunities Offered By AI'

Thursday saw a decrease in major U.S. indices, with the Dow Jones Industrial Average closing the session down by nearly 1% at 38,085.80. Similarly, the S&amp;P 500 dropped by almost 0.5% to 5,048.42, while the Nasdaq experienced a decline of 0.6% to 15,611.76.
Despite the overall market downturn, certain stocks managed to capture the attention of retail traders and investors. Here are the top five trending stocks of the day:
Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) ended the day with a 1.97% decrease, closing at $156. The stock&#8217;s intraday high was $156.49, and it hit a low of $150.87. The 52-week high and low are $160.22 and $102.63, respectively. The company&#8217;s Class C shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) ended the day nearly 2% lower at $157.95. Alphabet reported a 15% year-over-year increase in its first-quarter revenue to $80.54 billion, <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">beating the consensus estimate</a>. The company also announced a $70B buyback and its first-ever dividend.
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) saw a 2.45% decrease, closing at $399.04. The stock&#8217;s intraday high was $399.89, and it hit a low of $388.03. The 52-week high and low are $430.82 and $292.73, respectively. Microsoft reported a 17% year-over-year increase to $61.9 billion in its <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">third-quarter revenue</a>, beating the consensus estimate. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38384714/whats-going-on-with-trump-media-technology-stock-on-tuesday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Trump Media &amp; Technology Stock On Tuesday?</a>
Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) closed the day with a 1.77% increase, at $35.11. The stock&#8217;s intraday high was $35.3, and it hit a low of $34.5. The 52-week high and low are $51.28 and $26.86, respectively. Intel reported <a href="https://www.benzinga.com/news/earnings/24/04/38444720/intel-shares-fall-on-q1-revenue-miss-weak-q2-eps-guidance">worse-than-expected</a> first-quarter sales results and issued earnings guidance below estimates. Quarterly sales came in at $12.7 billion missing the consensus estimate of $12.78. billion by 0.44%.
Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) saw a 1.58% increase, closing at $62.81. The stock&#8217;s intraday high was $63.21, and it hit a low of $59.66. The 52-week high and low are $108.84 and $51.62, respectively. According to the company&#8217;s <a href="https://www.benzinga.com/news/earnings/24/04/38446113/roku-exceeds-q1-earnings-expectations-provides-upbeat-guidance">first-quarter numbers</a>, Roku reported losses of 35 cents per share beating the analyst consensus estimate of 62 cents and provided upbeat guidance. 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) ended the day with a 4.97% increase, closing at $170.18. The stock&#8217;s intraday high was $170.88, and it hit a low of $158.36. The 52-week high and low are $299.29 and $138.8, respectively. Billionaire investor Ron Baron believes Tesla stock is <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38441703/billionaire-ron-baron-calls-the-bottom-in-tesla-stock-says-shares-will-go-up-huge-from-h">ready to rip higher</a> from current levels. 
Photo by Phongphan on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38410320/stock-manipulation-in-trump-media-technology-group-stock-ceo-devin-nunes-urges-house-gop-leaders?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Stock Manipulation In Trump Media &amp; Technology Group Stock? CEO Devin Nunes Urges House GOP Leaders To Investigate</a>
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TSLA

Google Parent Alphabet, Microsoft, Intel, Roku, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) CEO Sundar Pichai has projected that the company&#8217;s YouTube and Cloud businesses will generate a combined revenue of $100 billion by 2024.
What Happened: The forecast was made by Pichai during the first quarter earnings, according to Gene Munster of Deepwater Asset Management, posted on social media platform X on Thursday. This projection suggests a 25% growth rate for each of the next three quarters, despite YouTube&#8217;s 21% and 28.4% growth in March.
Munster noted, &#8220;Maintaining growth rates around 25% despite larger numbers is a sign Google&#8217;s entering a new growth phase.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sundar said to <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a>&#39;s Youtube and Cloud to exit 2024 at a combined revenue of $100B. This implies 25% growth in each of the next three quarters, compared to YouTube up 21% and 28.4% in March. Take away: Maintaining growth rates around 25% despite larger numbers is sign…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1783598005142036526?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38395178/dogecoin-could-outperform-bitcoin-thanks-to-consolidation-in-the-golden-pocket-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: &#8216;This Is A Very Good Sign&#8217;</a>
Why It Matters: This announcement comes on the heels of <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">Alphabet&#8217;s Q1 earnings report</a>, which revealed a 15% year-over-year increase in revenue to $80.539 billion. The company also reported quarterly earnings of $1.89 per share, surpassing analyst estimates.
Earlier in April, Meta Platforms Inc. took a page out of Google&#8217;s playbook by opening up its Quest operating system to <a href="https://www.benzinga.com/news/24/04/38372183/meta-takes-a-leaf-out-of-googles-playbook-aims-to-make-quest-os-the-android-of-mixed-reality">third-party hardware manufacturers</a>. This move was a result of Meta&#8217;s investments in mixed reality, starting with Oculus in 2014 for $2 billion.
Despite facing <a href="https://www.benzinga.com/news/24/04/38133688/sundar-pichais-google-grapples-with-ai-mishaps-amid-worker-criticism-yet-holds-title-of-americas-mos">internal criticism and AI-related challenges</a>, Alphabet has once again secured the top position in the list of &#8220;America&#8217;s Most Innovative Companies 2024.&#8221; This is a testament to the company&#8217;s resilience and continued innovation under Pichai&#8217;s leadership.
Price Action: Alphabet&#8217;s Class C stock rose 11.43% in after-hours trading to $176.23. Similarly, Class A stock rose 11.56% to $174.04, as per data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a> at the time of writing.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Platforms Q1 Earnings Highlights: Facebook Owner Beats Estimates, But Guidance, Higher Costs Ding Stock</a>
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
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Gene Munster Applauds Sundar Pichai's $100B Revenue Projection For Google Parent Alphabet: A Sign Of 'Entering A New Growth Phase'

Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) CEO&nbsp;Sundar Pichai&nbsp;has expressed confidence in the company&#8217;s ability to manage the costs associated with the <a href="https://www.benzinga.com/news/23/12/36236482/googles-ai-search-a-double-edged-sword-for-publishers-like-the-atlantic">new search experience</a>, which includes generative answers.
What Happened: During the <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">first-quarter earnings call on Thursday</a>, Pichai addressed the changes in user behavior and the potential impact on the new Search experience given the integration of generative answers. 
The CEO also addressed concerns about the potential costs of serving these queries, latency, and monetization, expressing confidence in the company&#8217;s ability to manage these challenges. 
See Also: <a href="https://www.benzinga.com/news/24/04/38351566/mark-zuckerberg-didnt-sell-facebook-for-1b-but-would-he-have-sold-for-5t-this-was-meta-ceos-thought?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Didn't Sell Facebook For $1B But Would He Have Sold For $5T? This Was Meta CEO's Thought Process</a>
&#8220;People question whether these things would be costly to serve, and we are very, very confident we can manage the cost of how to serve these queries,&#8221; he said for new search experience. 
This announcement comes on the heels of Google&#8217;s strong first-quarter earnings, where the company beat analyst estimates on both the top and bottom lines for the fifth consecutive quarter. 
The company&#8217;s revenue increased by 15% year-over-year to $80.539 billion, surpassing the consensus estimate of $78.594 billion, according to data from Benzinga Pro.
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Why It Matters: Earlier this month, reports surfaced that Google was considering&nbsp;<a href="https://www.benzinga.com/news/24/04/38079174/alphabet-stock-initially-jumps-as-google-considers-charging-for-ai-search-the-details">charging users for AI-powered search</a>, a move that could potentially generate additional revenue for the company. 
As per the report by Financial Times, this development would mark the first time Google enclosed any segment of its fundamental Search product within a paywall. However, the tech giant&#8217;s traditional search engine will probably remain free of charge regardless.
Price Action: At the time of writing, Alphabet's Class A shares soared 11.6% in the after-hours session at $174.24, while the company's Class C shares shot up 11.4% at $176. The Class A and Class C shares closed nearly 2% lower at $156 and $157.95 respectively in the regular session, according to<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener"> Benzinga Pro data</a>.
Photo Courtesy: Wikimedia Commons
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years&#8217; Time</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Alphabet CEO 'Very, Very Confident' That It Won't Be 'Costly To Serve' Search Experience With Generative Answers

Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) CEO&nbsp;Sundar Pichai&nbsp;on Thursday expressed satisfaction with the development of the company&#8217;s&nbsp;Gemini AI, <a href="https://www.benzinga.com/news/24/02/37258050/elon-musk-pushes-xais-grok-ai-chatbot-after-google-gemini-comes-under-fire-truth-never-been-more-ess">despite recent controversies</a>.
What Happened: During the company&#8217;s <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">first-quarter earnings call</a>, Pichai highlighted the significant advancements made in the development of the Gemini AI and other models. 
He specifically mentioned the release of <a href="https://www.benzinga.com/news/24/02/37256429/gemini-ai-takes-a-timeout-google-halts-image-generation-after-historical-figure-controversy">Gemini 1.5 Pro in February</a>, which demonstrated substantial performance improvements across various dimensions. 
He pointed out the model&#8217;s long-context understanding breakthrough, which achieved&nbsp;the longest context window of&nbsp;any large-scale foundation model to date.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38421280/metas-stock-plunge-after-q1-numbers-an-overreaction-to-zuckerbergs-capex-move-says-gene-munster-he-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta&#8217;s Stock Plunge After Q1 Numbers An &#8216;Overreaction&#8217; To Zuckerberg&#8217;s CapEx Move, Says Gene Munster: &#8216;He Wants to Get Investors on the Same Page</a>
&#8220;We are already seeing developers&nbsp;and enterprise customers enthusiastically embrace&nbsp;Gemini 1.5 and use it&nbsp;for a wide range of&nbsp;things. Beyond Gemini, we have&nbsp;built other useful models, including&nbsp;our Gemma open models as&nbsp;well as Imagine visual models,&nbsp;and others,&#8221; Pichai said. 
The Google CEO then also expressed <a href="https://in.benzinga.com/content/37174562/googles-gemini-ai-chatbot-expands-reach-to-android-users-in-india-heres-how-to-use-it">satisfaction with the progress</a> of&nbsp;Gemini, saying, &#8220;We are also pleased with the progress we are seeing with Gemini and Gemini Advanced through the Gemini app on Android and the Google app on iOS.&#8221;
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Why It Matters: The Gemini AI has been the subject of both praise and controversy. Despite its innovative features, the AI has faced criticism for generating <a href="https://www.benzinga.com/24/02/37356467/google-ceo-sundar-pichai-admits-gemini-ai-errors-completely-unacceptable-no-ai-is-perfect-we-got-it">historically inaccurate images and text</a>. This led to Google temporarily disabling the AI&#8217;s ability to generate images.
In February, Pichai reportedly addressed the issue in an internal memo and called it &#8220;completely [unacceptable].&#8221; Gemini AI was producing <a href="https://www.benzinga.com/news/24/02/37233234/gemini-is-a-joke-googles-ai-chatbot-doesnt-even-know-how-its-own-founders-larry-page-and-sergey-brin">racially varied depictions</a> of Nazi-era German soldiers, misrepresenting the U.S. Founding Fathers and Google's own co-founders.
The image generation capability in Gemini which was launched in February earlier this year aimed to compete with OpenAI&#8217;s ChatGPT and Microsoft's Copilot. However, in their own word, Google admitted that Gemini had been &#8220;missing the mark.&#8221; 
Price Action: At the time of writing, Alphabet&#8217;s Class A shares soared 11.6% in the after-hours session at $174.24, while the company&#8217;s Class C shares shot up 11.4% at $176. The Class A and Class C shares closed nearly 2% lower at $156 and $157.95 respectively in the regular session, according to<a href="https://benzinga.grsm.io/lxquj26b2sag"> Benzinga Pro data</a>.
Photo courtesy: World Economic Forum on Flickr
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/04/38397316/elon-musk-says-morgan-freeman-is-awesome-after-american-actor-says-hes-a-huge-fan-of-tesla-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Morgan Freeman Is &#8216;Awesome&#8217; After American Actor Says He&#8217;s A Huge Fan Of Tesla CEO: &#8216;What He&#8217;s Done, Nobody Else Has Ever Done&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Alphabet CEO Sundar Pichai Lauds 'Progress' Despite Controversies Surrounding Google Gemini: Developer And Enterprise Customers Use It For 'Wide Range Of Things'

<h3>Gainers</h3>
<ul>
<li>Snap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares increased by 25.4% to $14.3 during Thursday's after-market session. The market value of their outstanding shares is at $23.6 billion. The company's, Q1 earnings came out today. </li>
<li>Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) stock moved upwards by 11.82% to $174.44. The company's market cap stands at $2.1 trillion. The company's, Q1 earnings came out today. </li>
<li>Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) stock rose 11.52% to $176.15. The company's market cap stands at $2.1 trillion. As per the press release, Q1 earnings came out today. </li>
<li>Pinterest (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) stock increased by 7.38% to $35.05. The market value of their outstanding shares is at $23.9 billion. </li>
<li>MoneyHero (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNY#NASDAQ">MNY</a>) stock moved upwards by 5.53% to $2.48. The company's market cap stands at $95.5 million. </li>
<li>MultiMetaVerse Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMV#NASDAQ">MMV</a>) stock moved upwards by 5.04% to $0.52. The market value of their outstanding shares is at $17.0 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Chicken Soup for the Soul (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSSE#NASDAQ">CSSE</a>) shares decreased by 7.2% to $0.24 during Thursday's after-market session. The company's market cap stands at $7.8 million. As per the news, the Q4 earnings report came out 4 days ago. </li>
<li>GD Culture Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDC#NASDAQ">GDC</a>) stock declined by 6.15% to $0.7. The market value of their outstanding shares is at $5.5 million. </li>
<li>Taboola.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBLA#NASDAQ">TBLA</a>) shares fell 5.0% to $3.99. The market value of their outstanding shares is at $1.1 billion. </li>
<li>NFT (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MI#AMEX">MI</a>) shares decreased by 3.56% to $3.73. The company's market cap stands at $11.5 million. </li>
<li>Society Pass (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOPA#NASDAQ">SOPA</a>) stock declined by 2.68% to $0.15. The company's market cap stands at $5.5 million. </li>
<li>VS Media Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSME#NASDAQ">VSME</a>) shares declined by 2.56% to $0.42. The company's market cap stands at $9.2 million. 
See Also: <a href="http://www.benzinga.com/money/best-communication-services-stocks/" title="www.benzinga.com/money/best-communication-services-stocks/">www.benzinga.com/money/best-communication-services-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CSSE

Eaton Vance Massachusetts Municipal Income Trust

PINS

SNAP

SOPA

TBLA

VSME

12 Communication Services Stocks Moving In Thursday's After-Market Session

Alphabet Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) reported financial results for the first quarter Thursday after the bell. Here's a look at the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/GOOG" rel="noreferrer noopener">key metrics from the quarter</a>.
Q1 Earnings:&nbsp;Google parent Alphabet said its first-quarter revenue increased 15% year-over-year to $80.539 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $78.594 billion. The company reported quarterly earnings of $1.89 per share, beating analyst estimates of $1.51 per share.
Alphabet has now beat analyst estimates on both the top and bottom lines in five consecutive quarters, according to earnings data from&nbsp;<a target="_blank" href="http://pro.benzinga.com" rel="noreferrer noopener">Benzinga Pro</a>.
Google Search revenue was $46.156 billion in the quarter, YouTube advertising revenue&nbsp;came in at&nbsp;$8.09&nbsp;billion and Google Cloud revenue totaled $9.574 billion.
"Our results in the first quarter reflect strong performance from Search, YouTube&nbsp;and&nbsp;Cloud. We are well under way with our Gemini era&nbsp;and&nbsp;there's&nbsp;great momentum across the company. Our leadership in AI research and&nbsp;infrastructure,&nbsp;and our global product&nbsp;footprint,&nbsp;position us well for the next wave of AI innovation," said&nbsp;Sundar Pichai, CEO of Alphabet.
Alphabet's board authorized an additional share repurchase program of up to $70 billion.&nbsp;
The company also announced its first-ever quarterly dividend. Alphabet's board declared a cash dividend of 20 cents per share to be paid on June 17 to shareholders of record as of June 10. Alphabet noted that it plans to pay quarterly cash dividends moving forward.
Alphabet did not provide forward guidance in the earnings release. Management will hold a conference call to discuss these results at 4:30 p.m. ET.
Check This Out:&nbsp;<a target="_blank" href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38427221/top-3-tech-stocks-that-could-lead-to-your-biggest-gains-in-april" rel="noreferrer noopener">Top 3 Tech Stocks That Could Lead To Your Biggest Gains In April</a>
GOOG Price Action:&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/GOOG" rel="noreferrer noopener">Alphabet shares</a>&nbsp;were up 12.2% after hours at $177.11 at the time of publication, according to&nbsp;<a target="_blank" href="https://benzinga.grsm.io/gxjhpowx7zks" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: Shutterstock.

Alphabet Q1 Earnings: Revenue Beat, EPS Beat, $70B Buyback, First-Ever Dividend, AI Leadership And More

Dividends

Alphabet Board Initiated Cash Dividend Program, Declared Dividend Of $0.20/Share

Buybacks

Alphabet Board Authorized Repurchase Of Additional $70B Of Class A And Class C Shares

Wedbush analyst Scott Devitt has reiterated their bullish stance on GOOGL stock, giving a Buy rating today. Scott Devitt has given his Buy rating d...

Alphabet's Growth Momentum: A Buy Rating with a Focus on AI and Shareholder Value

Raymond James analyst Josh Beck has reiterated their bullish stance on GOOG stock, giving a Buy rating on April 16. Josh Beck has given his Buy rat...

Buy Rating Justified by Alphabet's Strong Financials and AI-Driven Growth Prospects

Analysts fell to the sidelines weighing in on Roku (ROKU – Research Report), Snap (SNAP – Research Report) and Alphabet Class A (GOOGL – Research R...

Analysts Are Neutral on Top Communication Services Stocks: Roku (ROKU), Snap (SNAP)

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
You don&rsquo;t have to do daily trades to achieve your long-term financial goals. Buying and holding reliable stocks for many years can lead to outsized returns and move you closer to retirement. Investors have to remain patient and hold onto promising corporations during good times and bad times.



Stock market corrections test the mettle of many investors. Some investors mistakenly sell stocks just because they are going down. There are reasons to sell stocks, such as a significant change to the company&rsquo;s fundamentals or growth opportunities, but a correction alone isn&rsquo;t enough of a reason to sell reliable companies.



Investors who can weather the storm with these long-term stocks have the potential to grow their portfolios.



<h2>Alphabet (GOOG, GOOGL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-300x169.png" alt="Alphabet Inc. (GOOG, GOOGL) and Google logos seen displayed on smartphones. The Google stock split is happening today."><div>Source: IgorGolovniov / Shutterstock.com</div></div>Alphabet&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) didn&rsquo;t receive as much love to start the year as AI blunders got overblown. The stock has rebounded and is up by 11% year-to-date.&nbsp;



It&rsquo;s no secret that Alphabet makes most of its revenue from advertising. While it&rsquo;s better to have well-diversified revenue streams, ad revenue is working well for the company. Google and YouTube helped the company achieve 13% year-over-year revenue growth in&nbsp;<a href="https://www.abc.xyz/assets/95/eb/9cef90184e09bac553796896c633/2023q4-alphabet-earnings-release.pdf" target="_blank">Q4 2023</a>.&nbsp;



Google Cloud attributed to more than 10% of the company&rsquo;s revenue and looks like it can be a solid business segment for the company moving forward. Alphabet is one of the largest cloud computing providers. Google Cloud looks poised to become a larger percentage of total revenue each quarter. It wouldn&rsquo;t surprise me to see Google Cloud revenue become more than 20% of the company&rsquo;s total revenue within the next 1-2 years.



Revenue growth has been good, but net income growth has been even better. The company reported 52% year-over-year net income growth in Q4 2023. Cost-cutting measures can support higher profit margins and make the company&rsquo;s 29 P/E ratio look more enticing.&nbsp;



<h2>American Express (AXP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/axp1600-300x169.jpg" alt="an American Express (AXP) credit card sticking out of someone's pocket"><div>Source: Shutterstock</div></div>American Express&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/axp-stock-quote/">AXP</a>) exceeded expectations in the&nbsp;<a href="https://s26.q4cdn.com/747928648/files/doc_financials/2024/q1/Q1-2024-Earnings-Press-Release.pdf" target="_blank">first quarter of 2024</a>&nbsp;while attracting Millennials and Gen Z. Those two cohorts made up 60% of the company&rsquo;s new cardholders who came in during the first quarter.&nbsp;



The financial firm delivered on the high-end of its revenue guidance and surprised investors with its net income growth. Revenue grew by 11% year-over-year. It&rsquo;s a growth rate the firm believes it can achieve beyond 2026. Net income growth captured more attention. While the firm suggested mid-teens EPS growth beyond 2026, the firm reported 34% year-over-year net income growth in the quarter. That translated into a 39% year-over-year growth in diluted EPS.



The stock has a reasonable 20 P/E ratio given its current financials and long-term growth prospects. People will continue to use credit and debit cards during any economic cycle. American Express stands to benefit from that trend and is more reasonably valued than its peers.



<h2>Walmart (WMT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/wmt-stock-8-300x169.jpg" alt="Walmart (WMT) logo on a store front"><div>Source: Ken Wolter / Shutterstock.com</div></div>Many consumers turn to&nbsp;Walmart&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/wmt-stock-quote/">WMT</a>) when they want to save money on various products. The retailer has established a strong reputation for itself for more than 60 years. The company continues to expand and delivered 5.7% year-over-year revenue growth in&nbsp;<a target="_blank" href="https://s201.q4cdn.com/262069030/files/doc_earnings/2024/q4/earnings-result/Earnings-Release-2024-Q4.pdf">Q4 2023</a>.&nbsp;



Walmart has a few catalysts that can support higher growth rates and improved profit margins. The first catalyst is the rising cost of goods and services. Higher prices will entice more people to shop at Walmart to save money. The company has been making a push to attract&nbsp;<a target="_blank" href="https://qz.com/walmart-wealthy-shoppers-1851355757">a higher quantity of wealthy customers</a>.



The second catalyst is the company&rsquo;s advertising network. The global advertising business grew by 33% year-over-year and the acquisition of Vizio will strengthen this segment. A focus on advertising will increase profit margins and may have contributed to the company&rsquo;s 9% dividend hike.



The final catalyst is e-commerce growth. Global e-commerce sales grew by 23% year-over-year in the fourth quarter. Full-year e-commerce sales exceeded $100 billion. The company can exhibit better top and bottom lines as e-commerce revenue makes up a larger percentage of total revenue.



<h2>Elf Beauty (ELF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/01/elf1600-300x169.jpg" alt="an elf branded beauty product on a stone counter"><div>Source: Lisa Chinn / Shutterstock.com</div></div>Elf Beauty&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/elf-stock-quote/">ELF</a>) is in the middle of a deep correction that has made the stock more attractive for long-term investors. Shares are down by more than 25% from their all-time highs and currently trade at a 70 P/E ratio.



The beauty firm has a high valuation because of its impressive financial growth. Elf Beauty continued the trend with 85% year-over-year net sales growth in&nbsp;<a target="_blank" href="https://investor.elfbeauty.com/news-and-events/press-releases/landing-news/2024/02-06-2024-210530133">Q3 FY24</a>. The company significantly raised its fiscal 2024 outlook. The company hiked its net sales range from $896-$906 million to $980-$990 million. Net income came in at $26.9 million on a GAAP basis which is up by 41% year-over-year.



Elf Beauty has achieved 20 consecutive quarters of sales growth. Those results have helped the stock surge by more than 1,100% over the past five years. Analysts are feeling bullish on the stock and have rated it as a &ldquo;Moderate Buy.&rdquo; The average price target suggests a&nbsp;<a target="_blank" href="https://www.tipranks.com/stocks/elf/forecast">31% upside</a>&nbsp;from current levels.



<h2>Costco (COST)</h2>



<div><img width="300" height="150" src="https://investorplace.com/wp-content/uploads/2017/05/costco-wholesale-corporation-cost-ipsize-300x150.jpg" alt="Costco Stock May Be the Market&rsquo;s Top Recession Pick"><div>Source: Shutterstock</div></div>Costco&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/cost-stock-quote/">COST</a>) has established itself as a wholesaler that offers affordable prices for various products. The recent&nbsp;<a target="_blank" href="https://investor.costco.com/news/news-details/2024/Costco-Wholesale-Corporation-Reports-March-Sales-Results-and-Announces-an-Increase-in-Its-Quarterly-Cash-Dividend/default.aspx">monthly sales report</a>&nbsp;indicates the corporation is doing well. The company generated a 7.7% year-over-year comparable sales growth rate in the retail month of March. The company also reported 5.2% year-over-year growth over the past 31 weeks.&nbsp;



E-commerce growth also came in hot at 28.3% year-over-year for the retail month of March. The &ldquo;retail month of March&rdquo; is the five weeks ended April 7, 2024. Costco has steadily outperformed the stock market with a 189% gain over the past five years. The corporation trades at a 46 P/E ratio and offers a 0.655 dividend yield.&nbsp;



Costco makes it possible to do all of your shopping in one place, and that advantage has resulted in plenty of bullishness from analysts. The stock is rated as a &ldquo;Strong Buy&rdquo; with an average price target that suggests an&nbsp;<a target="_blank" href="https://www.tipranks.com/stocks/cost/forecast">11% upside</a>.&nbsp;



<h2>FICO (FICO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/05/bank-lending-capital-1600-300x169.jpg" alt="hands at desk near laptop computer, with one hand holding a pile of hundred dollar bills. Bank stocks"><div>Source: shutterstock.com/CC7</div></div>FICO&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/fico-stock-quote/">FICO</a>) measures credit risk and is the golden standard for credit scores. Many financial institutions use FICO scores to assess a consumer&rsquo;s level of risk before giving out loans.&nbsp;



The company has two business segments that both grew year-over-year in the&nbsp;<a target="_blank" href="https://investors.fico.com/news-releases/news-release-details/fico-announces-earnings-480-share-first-quarter-fiscal-2024">first quarter of fiscal 2024</a>. Scores revenue increased by 8% year-over-year. This segment includes the company&rsquo;s B2B scoring solutions and B2C solutions.&nbsp;



Software revenues jumped by 14% year-over-year. This segment consists of the company&rsquo;s analytics and digital decisioning technology. Annual recurring revenue grew by 43% year-over-year.&nbsp;



Overall revenue increased by 11% year-over-year, but net income growth was more impressive. Earnings were 24% higher compared to the same time year-over-year and resulted in a 31.7% net profit margin. The stock has handily outperformed the market with a 300% gain over the past five years. The stock is rated as a &ldquo;Moderate Buy&rdquo; and has a&nbsp;<a target="_blank" href="https://www.tipranks.com/stocks/fico/forecast">projected 20% upside</a>&nbsp;from current levels.



<h2>SoFi (SOFI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/10/sofi1600-1-300x169.png" alt="SoFi Technologies, Inc logo with stock market chart background. is an American online personal finance company and online bank."><div>Source: Poetra.RH / Shutterstock.com</div></div>SoFi&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/sofi-stock-quote/">SOFI</a>) has been a roller coaster for long-term investors. The stock is down by 25% year-to-date and has dropped by 31% over the past five years. However, the company is up by 18% over the past year and has a&nbsp;<a target="_blank" href="https://www.tipranks.com/stocks/sofi/forecast">projected 24% upside</a>&nbsp;from current levels.



The digital bank offers many services you would expect from traditional banks. The fintech firm offers bank accounts, loans, credit cards, investment accounts, and other resources. It&rsquo;s an all-in-one resource for people who want to manage their finances in one place.



A good platform isn&rsquo;t enough to justify buying the stock. However, SoFi recently switched to profitability and has a compelling long-term outlook. The firm grew its revenue by 35% year-over-year in&nbsp;<a target="_blank" href="https://s27.q4cdn.com/749715820/files/doc_financials/2023/q4/SoFi-Q4-2023-Earnings-Release.pdf">Q4 2023</a>&nbsp;while reporting $47.9 million in GAAP net income. That&rsquo;s a big shift compared to the $40.0 million GAAP net loss posted in Q4 2022.&nbsp;



SoFi expects 20%-25% compound revenue growth beyond 2026. The company also expects to generate $0.55 to $0.80 in GAAP earnings per share in 2026. The firm also expects 20%-25% compounded EPS growth beyond 2026.&nbsp;



The stock currently trades at roughly $7/share. A $0.55 EPS implies a 12.7 P/E ratio while an $0.80 EPS suggests an 8.75 P/E ratio. We have to wait until 2026 to see if guidance plays out as expected. However, the company&rsquo;s long-term goals and recent financial growth highlight a stock with great potential.&nbsp;



On this date of publication, Marc Guberti held long positions in GOOG, ELF, and SOFI. The opinions expressed in this article are those of the writer, subject to the&nbsp;<a target="_blank" href="https://investorplace.com/">InvestorPlace.com</a>&nbsp;<a target="_blank" href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>
<div>Marc Guberti is a finance freelance writer at InvestorPlace.com who hosts the Breakthrough Success Podcast. He has contributed to several publications, including the U.S. News &amp; World Report, Benzinga, and Joy Wallet.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/the-top-7-long-term-stocks-to-buy-in-april-2024/">The Top 7 Long-Term Stocks to Buy in April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The Top 7 Long-Term Stocks to Buy in April 2024

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Americans&rsquo; <a href="https://www.bls.gov/news.release/realer.nr0.htm#:~:text=Real%20average%20hourly%20earnings%20increased,weekly%20earnings%20over%20this%20period.">average hourly earnings</a> rose 0.6% more than inflation between March 2023 and March 2024. Since the Consumer Price Index climbed 3.5% year-over-year (YOY) last month, we can infer that Americans&rsquo; actual average wage increased 4.1% YOY in March. Since 2021, there have been similar hikes in our compensation. Many firms, including restaurant chains, advertisers, companies in the travel sector and large retail chains, have benefited from these wage hikes. Indeed, since the U.S. economy is primarily based on consumption, I believe that these compensation gains are the key reason why the nation has avoided the recession that so many were sure would be caused by the Federal Reserve&rsquo;s interest rate increases. Moreover, the wage gains are also largely responsible for the stock market&rsquo;s attainment of new all-time highs this year. With that said, here are three stocks to buy to profit from U.S. wage growth.



<h2>Chipotle (CMG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/cmg1600-300x169.jpg" alt="a pedestrian walks past a Chipotle"><div>Source: Northfoto / Shutterstock.com</div></div>Restaurant chain Chipotle (NYSE:<a href="https://investorplace.com/stock-quotes/cmg-stock-quote/">CMG</a>) is clearly getting a huge boost from U.S. compensation hikes. The company&rsquo;s first-quarter <a href="https://seekingalpha.com/news/4093578-chipotle-mexican-grill-non-gaap-eps-of-13_37-beats-1_70-revenue-of-2_7b-beats-30m">revenue jumped</a> 14% last quarter versus the same period a year earlier to $2.7 billion, while its comparable restaurant sales jumped 7% year-over-year.



What&rsquo;s more, its operating margin came in at 16.3% last quarter versus 15.5% in Q1 of 2023 and its earnings per share soared an incredible 23.9% YOY to $13.01. The company was able to increase the average amount spent by its customers by 1.6% YOY.



Moreover, CMG continues to expand,<a href="https://seekingalpha.com/pr/19699228-chipotle-announces-first-quarter-2024-results?hasComeFromMpArticle=false"> as it opened 47</a> new restaurants in Q1. The company added that a number of its &ldquo;marketing initiatives&rdquo; proved to be quite successful.



With Chipotle&rsquo;s offerings obviously clicking with consumers and the firm growing rapidly and benefiting from consumers&rsquo; wage growth, I expect CMG stock to easily outperform the stock market going forward, making it an ideal option among stocks to buy.



<h2>Alphabet (GOOG, GOOGL)</h2>



<a href="https://investorplace.com/wp-content/uploads/2024/03/alphabet_googl.png"><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/alphabet_googl-300x169.png" alt="Alphabet (GOOGL) - Quantum Computing Stocks to Buy"></a>Americans&rsquo; wage growth and the resulting, strong economic growth that the country has experienced have led marketers in recent months to spend much more on ads than they did in 2022 and the first half of 2023.



Alphabet (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>), which gets the lion&rsquo;s share of its revenue and profits through advertising, <a href="https://seekingalpha.com/symbol/GOOG/income-statement">has been a major beneficiary </a>of this trend. For example, in the fourth quarter of last year, its top line came in at $86.3 billion, up from $76 billion in Q4 of 2022., while it generated $24.9 billion of operating income, versus $18.16 billion during the same period a year earlier.



In a note to investors on April 17, Truist, a U.S. bank, <a href="https://seekingalpha.com/news/4090437-alphabet-sees-buy-rating-maintained-at-truist-ahead-of-solid-q1-results">predicted that </a>GOOG would report &ldquo;solid&rdquo; Q1 results, driven by strong engagement trends which have, in turn, triggered increased ad revenue for Alphabet. 



 In other words, consumers, flush with increased funds from wage growth ,are clicking more on Alphabet&rsquo;s paid ads, causing its top line to surge. 



Truist, which hiked its price target on GOOG stock to $170 from $158, expects the company&rsquo;s Q1 results to come in slightly above analysts&rsquo; average estimates.



<h2>General Motors (GM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/gm-stock-6-300x169.jpg" alt="Image of General Motors (GM) logo on corporate building with clear sky in the background."><div>Source: Katherine Welles / Shutterstock.com</div></div>General Motors (NYSE:<a href="https://investorplace.com/stock-quotes/gm-stock-quote/">GM</a>) <a href="https://seekingalpha.com/pr/19696002-gm-releases-2024-first-quarter-results-and-raises-full-year-guidance?hasComeFromMpArticle=false">delivered very strong </a>Q1 results which demonstrated that it&rsquo;s been a major beneficiary of Americans&rsquo; wage growth.



The automaker&rsquo;s net income surged a very impressive 24% last quarter versus the same period a year earlier to $2.98 billion, while its automotive operating cash flow soared 61% year-over-year to $3.6 billion.



Moreover, GM increased its 2024 EPS guidance to $9-$10, versus its previous target of $8.50-$9.50.



Multiple Wall Street analysts <a href="https://seekingalpha.com/news/4093194-general-motors-attracts-higher-price-targets-after-earnings-impress-analysts">were pleased with the company&rsquo;s</a> results and bullish on the outlook of this option among stocks to buy.



For example, Swiss bank UBS, calling GM one of the best names in the auto sector, increased its price target on the name to $58. Meanwhile Japanese bank Mizuho, lauding the company&rsquo;s position within the SUV and pickup truck market, hiked its price target on the name to $52.



On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>
<div>Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel&rsquo;s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been SMCI, INTC, and MGM. You can reach him on Stocktwits at @larryramer.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-stocks-to-buy-now-to-ride-the-wave-of-robust-wage-growth/">3 Stocks to Buy Now to Ride the Wave of Robust Wage Growth</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Stocks to Buy Now to Ride the Wave of Robust Wage Growth

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Investing in machine learning (ML) stocks presents an enticing opportunity for outsized returns, potentially tripling your investment by 2030. Machine learning, a cutting-edge subset of artificial intelligence, is rapidly transforming industries.&nbsp;



ML models excel at identifying patterns, making predictions and driving automated tasks. Machine learning&rsquo;s impact extends beyond traditional tech companies and continues to disrupt industries like autonomous vehicles, healthcare and cybersecurity. By investing in the right machine learning stocks, investors can tap into the exponential growth potential of this disruptive technology.&nbsp;



Now, let&rsquo;s discover the best machine learning stocks that could triple your money by 2030!



<h2>Alphabet (GOOG)(GOOGL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-300x169.png" alt="Alphabet Inc. (GOOG, GOOGL) and Google logos seen displayed on smartphones. The Google stock split is happening today."><div>Source: IgorGolovniov / Shutterstock.com</div></div>Alphabet (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>)(NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) sits at the forefront of artificial intelligence and machine learning innovation. Its artificial intelligence (AI) prowess is deeply ingrained within its core products, powering its dominant search engine, Google Maps, and its android operating system.



Google AI, Alphabet&rsquo;s research arm, relentlessly pushes the boundaries of machine learning across fields like natural language processing (NLP) and computer vision. Their ventures into machine learning driven initiatives further underscores its potential. For example, Alphabet&rsquo;s self-driving car subsidiary Waymo, relies heavily on machine learning algorithms for navigation and better decision making. Moreover, Google Deepmind has garnered widespread recognition for its <a href="https://deepmind.google/technologies/alphafold/">Alphafold system</a>. This AI breakthrough is capable of predicting complex protein structures that could revolutionize drug discovery. With a strong position across multiple technology segments, Alphabet has showcased continuous commitment to AI and ML research and development.



<h2>Palantir Technologies (PLTR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/pltr1600-300x169.png" alt="Palantir Technologies (PLTR) logo seen on billboard, known as Palantir is a public American company that specializes in big data analytics."><div>Source: Poetra.RH / Shutterstock.com</div></div>Palantir Technologies (NYSE:<a href="https://investorplace.com/stock-quotes/pltr-stock-quote/">PLTR</a>) holds a reputation for building powerful data analytics platforms used by intelligence agencies, government entities and corporations. Their platforms include sophisticated machine learning algorithms that empower users to unlock insights from complex data sets.



Palantir&rsquo;s Gotham platform caters to the public sector, aiding with intelligence analysis and defense operations. For commercial use, Palantir&rsquo;s Foundry platform helps businesses optimize processes, detect fraud and improve supply chain efficiencies. What sets Palantir apart is its ability to sift through unstructured data, like images and videos. This long-stranded history in the machine learning arena as well as dealing with complex data is what makes their technology highly coveted by government agencies. Moreover, Palantir&rsquo;s new Artificial Intelligence Platform (AIP) platform continues to gain traction as commercial revenue increased 70% year over year in <a href="https://investors.palantir.com/news-details/2024/Palantir-Reports-Its-Fifth-Consecutive-Quarter-of-GAAP-Profitability-Fourth-Quarter-GAAP-EPS-of-0.04/">Q4 2023</a>. With management anticipating another full year of GAAP profitability in 2024, Palantir remains one of the best machine learning stocks to buy now in 2024.



<h2>Snowflake (SNOW)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/snow-1600-300x169.png" alt="Snowflake symbol and logo at the company corporate headquarters in Silicon Valley. SNOW stock."><div>Source: Sundry Photography / Shutterstock</div></div>Snowflake (NYSE:<a href="https://investorplace.com/stock-quotes/snow-stock-quote/">SNOW</a>) delivers a leading cloud-based data warehousing solution that simplifies the process of storing, organizing and analyzing large data sets. While its core product offering focuses on data storage, Snowflake has steadily incorporated machine learning capabilities into its platform.&nbsp;



Snowflake offers features supporting the development, training and deployment of advanced machine learning models directly within its data warehouse infrastructure. The seamless integration of data storage and machine learning makes Snowflake extremely attractive to businesses. This is because it eliminates the need for complex data transfers between platforms, offering a one-stop-shop solution. 



Additionally, the company recently <a href="https://www.businesswire.com/news/home/20240424761970/en/Snowflake-Launches-Arctic-The-Most-Open-Enterprise-Grade-Large-Language-Model">launched Snowflake Arctic</a>, an open-source enterprise-grade large language model (LLM). Snowflake is committed to product innovation and believes Arctic will accelerate customers ability to build powerful AI and machine learning apps with their enterprise data at scale. It is important to note that although their future is extremely bright, the company still remains unprofitable. Therefore, approach this one with caution and only invest what you can afford to potentially lose.



On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Terel Miles is a contributing writer at InvestorPlace.com, with more than seven years of experience investing in the financial markets.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-machine-learning-stocks-that-could-triple-your-money-by-2030/">3 Machine Learning Stocks That Could Triple Your Money by 2030</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Machine Learning Stocks That Could Triple Your Money by 2030

COST

FICO

PLTR

SNOW

SOFI

TMUS

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AMZN

BTAI

CERT

CSE:TRUE

EXAI

GEHC

HWAIF

RLAY

RPRX

TREIF

TSX:AIDX

VRSSF

Autohome Inc. American Depositary Shares, each representing four class A ordinary shares.