Why Alphabet Stock Is Falling Today
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Alphabet's stock fell by 3.2% following the announcement of its $32 billion acquisition of cloud security company Wiz. Investors expressed disappointment over the size of the deal, which is Alphabet's largest to date, and the 40% increase from last year's offer of $23 billion. Wiz, which had an annual recurring revenue of $500 million as of September 2024, will enhance Google Cloud's security offerings. The acquisition aims to improve Alphabet's competitive position against Amazon and Microsoft in the cloud market, despite concerns over the high cost amid ongoing AI investments.
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