Alphabet is showing the downside of being an AI stock
Alphabet has been talking nonstop about AI. Now investors are looking for proof that the company’s efforts are working.
Why Alphabet (GOOG) Stock Is Slumping Today
Alphabet (GOOG,GOOGL) stock is tumbling 7% this morning. The tech giant plans to spend more money on AI development than expected this year, and its cloud business expanded at a slightly lower rate in the fourth quarter than the Street had anticipated.
Alphabet Earnings Beat Expectations. Why the Stock Is Tumbling.
Cloud revenue in the quarter of $12 billion—a 30% increase from last year—just misses analysts’ estimates of $12.2 billion.
Why Alphabet Stock Was Sliding Today
Shares of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) were moving lower Wednesday morning after the tech giant reported fourth-quarter revenue that was slightly below estimates and its slowest top-line growth of 2024.
Key takeaways from Alphabet earnings after in-line revenues; stock slips
Alphabet's stock fell postmarket after fourth-quarter earnings, where profits beat expectations, but revenue growth was in line after disappointing growth in the cloud unit.
Alphabet's stock could do something it hasn't done in 4 years ahead of earnings
Alphabet's stock was running up 2.6% in recent trading into record territory. If the stock closes above the Jan. 31 record close of $204.02, it would mark the seventh record close this year. It would also be the first time it closed at a record the day earnings were being released since Feb.
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Stock market today: Nasdaq, S&P 500 slide as Alphabet and AMD earnings fall short
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