Strong Report for Google in Q3
Oct 31, 2024
Alphabet (i.e., Google) reported Q3 results that were strong across the board. Revenue was up 15%, led by Google Cloud growing 35% year-over-year as businesses spend to build out their AI infrastructure. The core business (search, subscriptions, platforms, YouTube, etc.) still grew a healthy 13%, and remains 87% of revenues. The company continues to expand margins (op margin up to 32.3%, vs. 27.8% a year ago) and buy back shares (down 2.2% year-over-year). Pretty much the results were are looking for from the company, but the market is still ahead of the value. I'm bumping the fair value price up a few bucks to $127. Google will remain on the Watch List.
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Watch List
| RDDT | -3.10% |
| NTNX | 19.96% |
| CRWD | 58.63% |
| SE | 18.86% |
| SNOW | -0.07% |
| APPF | 6.36% |
| PINS | -32.90% |
vs. Fair Value Estimates
Buy List
| SEMR | -42.58% |
| TSM | -41.49% |
| ZETA | -26.94% |
| GOOG | -53.04% |
| NYAX | -40.17% |
| MSFT | -32.04% |
| ODD | -34.46% |
| ASR | -25.21% |
| FLYW | -40.06% |
| HRMY | -57.58% |
| GLBE | -30.30% |
| YOU | -38.37% |
| ABNB | -35.97% |
| MELI | -32.96% |
| ADBE | -43.33% |
vs. Fair Value Estimates
Hold List
| VTEX | -20.64% |
| CELH | 44.00% |
| TOST | 8.87% |
| CPNG | -19.02% |
| HIMS | -20.03% |
| PAYC | -23.23% |
| MNDY | 1.14% |
| ZS | 17.92% |
| V | -5.99% |
| ADSK | -4.76% |
| NOW | -6.51% |
| FTNT | -12.31% |
| TEAM | -13.00% |
vs. Fair Value Estimates