"Alphabet Class C, the parent company of Google, is set to announce its Q3 results on October 29, with high expectations from analysts and investors. Scotiabank analyst Nat Schindler has increased his price target for Alphabet's stock, citing strong growth in the Google Cloud Platform and a recovery in its advertising business. Notably, YouTube's ad monetization for Shorts is nearing the same level as traditional videos, thanks to AI-driven marketing. The company's new Ironwood TPU chip also shows promising improvements, potentially closing the efficiency gap with Nvidia's chips."
"In addition to these developments, Alphabet is making a significant €5 billion investment in its cloud and AI infrastructure in Belgium, which will expand data centers and create 300 new jobs. This move aligns with Alphabet's broader strategy to enhance its AI and cloud capabilities globally, with similar investments planned in other regions. Wall Street maintains a strong buy consensus on Alphabet's stock, reflecting confidence in the company's growth prospects, especially as its stock has risen over 32% year-to-date."
Alphabet Class C will report Q3 results on October 29 amid elevated expectations. Analysts point to strong growth in the Google Cloud Platform and a recovery in advertising as drivers of improved outlooks. YouTube ad monetization for Shorts is approaching parity with traditional video formats through AI-driven marketing enhancements. The new Ironwood TPU chip shows efficiency gains that could narrow the gap with competitors. Alphabet plans a €5 billion investment in cloud and AI infrastructure in Belgium, creating 300 jobs and expanding data centers, as part of broader global AI and cloud investments that support continued market confidence.
Read at TipRanks Financial
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