Alphabet Earnings: Cloud and AI in Focus as Ad Revenue Remains Core Business
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Alphabet is set to report Q4 2023 earnings after market close today. Expectations are high, with EPS of $1.6 (up 10%) and revenue of $85.2B (up 12% YoY) forecasted.
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Google Cloud revenue growth and AI initiatives will be closely watched. Cloud is key area of focus, but Q3 results disappointed despite strong growth.
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Advertising remains core business. Market outlook improving in 2024, which could benefit ad spending and in turn boost Alphabet revenues.
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Financial health looks solid overall according to ProTips analysis. High valuation ratios suggest stock may be overbought.
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Technical analysis shows stock rallying into resistance around $153. Uptrend intact as long as $150 level holds. Risk of correction exists.