Google's Q3 performance exceeded expectations across the board! Major banks quickly raised the target price to $235, will the stock price potentially hit a new high?
On Tuesday, October 29th, in post-market trading on the US East Coast, Google released its financial report for the third quarter of 2024. Due to the application of artificial intelligence (AI) technology driving cloud business and the recovery of revenue from YouTube advertising, Google's major business revenues have all exceeded expectations.
CMB International: Alphabet (GOOG.US) exceeded expectations in the third quarter performance, Google Cloud maintains strong momentum.
BOC International released a research report stating that Alphabet (GOOG.US) achieved a 15% year-on-year increase in total revenue in the third quarter of this year, which is basically in line with market expectations; net profit increased by 34% year-on-year, exceeding market expectations by 15%, mainly due to effective management of staff and equipment. Taking into account the support of the stable efficiency improvement of Google Cloud and the group level, the bank has raised the profit forecast for Alphabet for the fiscal years 2024 to 2026 by between 6% and 8%, and will maintain its target price at $218, maintaining a 'buy' rating. BOC International also expects,
35 digits! Google's astronomical fine far exceeds the global GDP total.
According to the Russian media RBC's report, the Russian government has fined Google approximately $20,000,000,000,000,000,000,000,000,000,000,000 (35 digits), a figure far exceeding the global GDP total (approximately $110 trillion in 2023, a 15-digit number).
Google Maps AI functionality has been greatly upgraded, is Apple Maps ready?
Map services have become a battleground for AI. With competitors like Apple catching up, Google Maps continues to innovate and integrate more closely with AI. Users can now use natural language to search for nearby restaurants and other information on Google Maps, and get AI-generated summaries of user reviews. They can also experience the destination's weather and traffic conditions in advance, and in the future, even take a virtual campus tour.
Tech Giants See AI Bets Starting to Pay Off -- WSJ
Are the financial reports of the technology giants in the US stock market insufficient in the beginning of the season, is the "AI hot" expectation overhyped or just a technical profit-taking pullback?
Large technology companies need to meet investors' expectations for both the past and the future more than any other industry.