Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) experienced significant stock price movement in 2023, from a 52-week low to a high by year-end, driven by AI advancements and its dominant market position. In 2024, Alphabet faces challenges including the phasing out of third-party cookies in Chrome ("Chrome-ageddon") and an ongoing antitrust lawsuit over Google's search engine practices. Despite these issues, Alphabet's strong Q3 financials, the growing digital advertising market, and potential in AI suggest that the stock could be a compelling long-term investment. However, investors should note that Alphabet was not listed among The Motley Fool's top 10 stocks to buy now.
Alphabet (GOOG, GOOGL) experienced significant stock price movement in 2023, hitting a 52-week low and high, and is now facing challenges in 2024, including the phasing out of third-party cookies in Chrome ("Chrome-ageddon") and an ongoing antitrust lawsuit over its search engine practices. Despite these challenges, Alphabet's strong Q3 financials, dominance in digital advertising, and potential in AI and cloud computing make it a compelling long-term growth investment. The global digital advertising industry is expected to grow, and Alphabet's transition to Privacy Sandbox could further strengthen its position. The outcome of the antitrust lawsuit remains uncertain, but Alphabet's robust financial health suggests resilience against potential setbacks.
