Alphabet (GOOGL) Stock Poised for Growth Amid Waymo Expansion and Cloud Dominance
Wall Street analysts are bullish on Alphabet's growth trajectory, with institutional investors adding $2.37 billion in GOOGL shares following strong earnings. The company's Q3 revenue surged 16% to $102.3 billion, with Q4 projections targeting $111.1 billion—a 22% earnings jump anticipated.
Waymo emerges as a key catalyst. The autonomous vehicle subsidiary, spun out from Google X in 2016, now challenges Tesla's robotaxi dominance with expanding US operations. Meanwhile, YouTube and cloud computing divisions drive 28% three-year earnings growth, sustaining Alphabet's tech leadership.
Market sentiment reflects this momentum: 36% annual earnings growth forecasts at $10.63/share underscore institutional confidence. As one fund manager noted, 'Alphabet's vertical integration—from AI to infrastructure—creates moats competitors can't easily cross.'