Veytics Intelligence
2026-09-17 · Yahoo

The Biggest Catalyst for Alphabet Stock May Not Be Search

Quick Read GOOG trades at a P/E of 14 despite 82% Cloud growth, with a $504.76 price target implying 50% upside. Google Cloud grows faster than Azure (43%) and AWS (37%) combined, yet MSFT and AMZN trade at double or triple GOOG's earnings multiple. Alphabet's $514 billion Cloud backlog is larger than its entire 2025 revenue base, signaling multi-year growth well beyond Search. Read More: Avoid these 13 retirement mistakes before they derail your future (sponsor) Alphabet's second-quarter results made one thing clear: Google Cloud is no longer the sidekick to Search. Cloud revenue grew 82% to $24.8 billion, and backlog jumped more than $50 billion sequentially to $514 billion.

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