Alphabet's stock fell 12.65% over the past week to $280.03, while Google Cloud revenue reached $30.71B in Q3 2026, up 103%, and Search and other revenue rose 12% to $63.35B. The author argues the stock is priced like a company in decline despite operating income growth of 29.93%, citing a P/E of 12 and a Gemini app that passed one billion users. The main risk is heavy spending: capex hit $51.36B, up 114.4%, and free cash flow was negative $9.07B, funded by $28.7B in senior notes and at-the-market share sales. GAAP EPS of $2.12 missed estimates and ended a 12-quarter beat run, partly due to an $8.7B equity-securities loss. The author says he watches Cloud margins and how much new stock Alphabet issues.
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Related tickers and likely impact
GOOGL
▲ Likely positiveAlphabet Inc. (Class A)
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $3.5T |
| Close on 11/03/2026 | 279.91 |
| Change that session | +0.33% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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