Will Alphabet Stock Beat the Market in 2023? – The Motley Fool
2023 is shaping up to be another volatile year for the search giant.
Share prices of the tech giant plunged 39% last year as tech valuations fell across the board, its revenue growth slowed significantly, and profits declined. As the Google parent limps into 2023, the good news is that the stock trades at a low price-to-earnings ratio of just 18, making it slightly cheaper than the average S&P 500 stock. That potentially sets up the stock for a comeback, but will it come through for investors?
Let’s take a look at Alphabet’s prospects for 2023, and whether it can beat the market.
The pressure is on
The last time we heard from Alphabet, investors were left wanting more. In its third-quarter earnings report, revenue rose just 6% year over year, and earnings per share actually dropped from $1.40 to $1.06 as spending in every line item of its income statement rose faster than revenue.
Alphabet’s spending on unprofitable businesses like Google Cloud and other bets, which include the…
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