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There is no looking back for Google Stock in 2017
Google founders Larry Page and Sergey Brin had written in the original founders’ letter that Google was not a conventional company. And they have stuck to that unconventional spirit ever since. They have changed the mobile device ecosystem with Android and mapped the world with Google Maps. And today, Alphabet has become a technology giant with a collection of businesses, the largest of which is Google.
Although Google stock performance over the past year has remained muted, the company has been investing in its future growth and focusing on its strengths. Alphabet owned Google continues to post strong results in mobile search segment. The growth in YouTube continues to impress, powered by video advertising.
The year 2016 was phenomenal for Google parent Alphabet Inc which introduced its ‘Google Pixel’ phone powered by ‘Google Assistant’. There was lot of excitement surrounding the launch and GOOG stock got a boost from favorable reviews for Pixel smartphone. Some even called the Pixel as the best android phone ever. And this gains more significance in the year 2017 as Alphabet Inc puts its weight behind artificial intelligence and self-driving technology, making Google stock interesting to watch.
One of the major growth catalysts in the year 2017 shall be Google Cloud, which has been behind Amazon Web Services and Microsoft Azure. However, the Google Cloud Platform is likely to shine in the year as the company leverages its strength in machine learning and artificial intelligence (AI).
Google’s core products like Search, Android, Maps, Chrome, YouTube, Google Play and Gmail each have over one billion monthly active users. But the best part is that the company is just beginning to scratch the surface. With the focus shifting to diversifying its revenues, Alphabet is likely to see better days ahead and more strength in GOOG stock.
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From: Michael Lombardi, MBA