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GOOG Stock Journey Gets More Exciting in 2018
Alphabet Inc (NASDAQ:GOOG) has been a phenomenal growth stock. With its suite of high-growth businesses like digital advertising and cloud computing, together with its new businesses like smart home devices and consumer electronics, Alphabet’s growth is expected to continue in 2018 as well. Our GOOG stock forecast for 2018 remains upbeat.
The fourth-quarter and final-year results of the company were quite impressive. Revenues for 2017 were more than $110.0 billion, which was an increase of 23% over the previous year. Moreover, the company continues to make substantial investments in exciting new businesses for the long term.
“Google Cloud” and “YouTube” continue to gain market share as the company’s focus on users and advertisers bears fruits. The search giant has been enjoying strong secular growth that is bound to push Alphabet stock higher in 2018. With the rise of mobile search as well as Google’s foray into hardware, the momentum is definitely on Google’s side.
Moreover, Alphabet continues to make progress across its “Other Bets” division. The holiday performance of “Nest” was quite strong and its reach expanded to 12 new countries.
However, the “Waymo” project attracted the most headlines during the year. In November 2017, Waymo became the only company to have a fleet of autonomous cars on public roads. With the rise of driverless cars in the coming years, Alphabet appears to be in a strong position to dominate the market and improve sentiment for Alphabet stock in 2018.
Alphabet still remains an unconventional company, as declared by its founders, and also a strong bet for the future growth in the technology space. Its artificial intelligence (AI) and machine learning efforts are considered to be way ahead of its competitors. With many exciting and growing businesses in its fold, GOOG stock in 2018 is likely to scale new heights.
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From: Michael Lombardi, MBA