Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, July 31, 2020

Article Excerpt

ALPHABET INC., Nasdaq symbols GOOG (class C non-voting), $1,482.96, and GOOGL (class A voting), $1,487.95, is still our #1 Aggressive Buy for 2020. Alphabet is the holding company for Google’s Internet search business and the firm’s smaller, riskier operations. Its investors also tap emerging markets through the company’s smaller businesses—what it calls its “Other Bets.” They sell home thermostats and self-driving car technology, among other tech products. The company reported lower revenue and earnings for the second quarter of 2020. Despite strong demand for its cloud computing services, businesses spent less on advertising due to the COVID-19 shutdowns. In the three months ended June 30, 2020, Alphabet’s revenue fell 1.7%, to $38.30 billion from $38.94 billion a year earlier. Even so, that still beat the consensus forecast of $37.35 billion. Specifically, revenue for the Google division (99% of the total) declined 1.7%. Revenue from Other Bets (1% of revenue) fell 8.6%. Overall earnings in the quarter dropped 30.0%, to $6.96 billion from $9.95 billion. Due…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.