Alphabet (GOOGL, Buy, $166 target) Potential catalyst path for the next 6 weeks, starting with Google Cloud NEXT
Google Cloud Next 2024 takes place next week from Tues April 9th – to Thurs April 11th in Las Vegas and we’ll be attending.In this note we review current sentiment for GOOGL and walk through the potential catalyst path for the stock over the next six weeks (events like I/O, Brandcast and GML follow in May after late April earnings), and review what investors should be looking for at the Cloud NEXT event next week.
Alphabet is a holding company. Through its subsidiaries, the company is engaged in a collection of businesses, which its primary business is Google. The company reports all non-Google businesses collectively as Other Bets. Google's main products and platforms are Android, Chrome, Gmail, Google Drive, Google Maps, Google Play, Search, and YouTube. The company also provides advertisers with tools that help them attribute and measure their advertising campaigns. In addition, Other Bets includes Access, Calico, CapitalG, GV, Verily, Waymo, and X, among others. Other Bets primarily engages in the sales of internet and TV services through Access as well as licensing and research and development services through Verily.
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