Prediction: Alphabet Stock Is Going to Soar After Oct. 28
The S&P 500 hit a fresh record high last week, and it’s trading at an elevated valuation as investors price in some very high forward expectations for artificial intelligence (AI) companies. As a result, strong corporate earnings are the key to keeping this bull market going, and most technology giants will report their latest quarterly results over the next month.
Google parent Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) is scheduled to release its operating results for the third quarter (ended Sept. 30) on Oct. 28. Its stock happens to be reasonably valued heading into the report, and here’s why I predict it could soar in the weeks and months that follow.
Image source: Alphabet.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.