Alphabet's Class C shares trade at $346.72, up 40.67% over the past year. The article's base-case model projects a $10,000 stake could reach about $19,828 by 2031, while its bear case gives $12,912. Growth is driven by Google Cloud, where revenue rose 82% to $24.8 billion, operating margin reached 35.6% and backlog hit $514 billion. Risks include capital expenditures of $44.9 billion that pushed free cash flow to negative $5.9 billion, debt rising to about $100 billion from about $16 billion a year earlier, and a suspended buyback program. The article stresses these are modeled scenarios, not investment advice.
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