Google Cloud AI Upside Revision
Analysts believe Google Cloud revenue potential is underestimated, leading to increased stock price targets.
Too little corroboration in the last 3 days to call a trend (3 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"During the first quarter that ended on March 31, Alphabet grew its Google Cloud earnings by 63% year-over-year to $20 billion, crushing expectations of $18.22 billion."
"Truist analyst Youssef Squali raised his price target for GOOGL stock to $430 from $415 and reaffirmed a Buy rating, as he believes that the market is underestimating Google Cloud’s revenue."
"Mizho’s reasoning, according to the note, is that the consensus estimate is severely underestimating the potential for Google Cloud revenue and, by extension, the income potential in the next two years."