The Alphabet share has been on a rise for some time. The breakout above the EMA200 has now opened up new opportunities for follow-on buying up to a price target of 120 dollars. Through the quarterly figures, the share has made a jump of more than 8 percent in recent days, although a correcting overall market had announced a countermovement.
Despite a weaker advertising business last quarter and a slump in profits, investors remain positive as the company looks to cut costs and prepare its ChatGPT alternative for public use. The upward movement regained momentum on Tuesday and the price target of $120, defined by a double bottom formation, now seems achievable.
Alphabet Inc. is a leading global technology company known as the parent company of Google. The company’s stock is listed on NASDAQ and is one of the most traded stocks in the world.
Since Google was founded in 1998, Alphabet has grown into a company with a wide range of products and services. These include not only the world-renowned search engine Google, but also the online advertising marketplace AdSense, the video platform YouTube, the map services Google Maps and the mobile operating system Android.
Alphabet has continuously invested in research and development in recent years and is a pioneer in many areas. These include artificial intelligence, autonomous driving, virtual and augmented reality, and the Internet of Things.
The company has a strong financial position and has consistently generated high profits. It is known for its innovative business models and its ability to enter new markets. These factors have made Alphabet’s stock a desirable investment for investors.
Overall, Alphabet stock is considered one of the most attractive stocks in the market, with strong growth prospects and a solid financial position. Investors looking for a long-term investment can invest in Alphabet stock to benefit from its continuity and stability.