The tech industry has earned a reputation for rewarding innovative companies and their investors with consistent and significant gains over the long term, with the Nasdaq-100 Technology Sector up more than 150% since 2019.
In the third quarter of 2023, Alphabet posted revenue growth of 11% year over year, beating Wall Street forecasts by $980 million. The rise was mainly due to improvements in its advertising segments, represented by an 11% increase in Google Search revenue and 12% growth from YouTube ads.
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