Alphabet (GOOGL, Buy, $380 target) Search still humming, GCP rising for this consensus AI winner
What’s New: In this first take following tonight’s results, we focus on:1. More investment, but the clear AI returns continue to support the stock
2. Search & Other revenue growth continues to drive the narrative…
3. …but Google Cloud is now firmly riding in the shotgun seat
4. 2026 Capex guide raised, 2027 to “increase materially” and the market expected it
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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