Alphabet Stock Appears Undervalued After 20-1 Split; AI and Search Dominance Could Fuel Growth
• Alphabet recently completed a massive 20-for-1 stock split, lowering its share price to about $110 • The stock looks attractively valued with a forward P/E of 21, below the NASDAQ average • Alphabet is exploring AI as a new growth driver, including its Gemini model and AI chips • Its dominance in search remains strong despite competition from ChatGPT • Patterns suggest we could be on the cusp of a new bull market in 2024 as macro issues fade