Google At Staggering 42% Discount To S&P 500 After $150 Billion Value Dive
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Alphabet Inc (GOOGL) experienced a significant drop of over 7%, losing nearly $150 billion in market cap, following Apple Exec Eddy Cue's testimony in a Google antitrust trial. Cue's comments indicated a decline in Apple's search volume, raising concerns about Google's search dominance. Despite the sell-off, JPMorgan analyst Doug Anmuth believes the reaction was excessive, citing Google's continued relevance and strong fundamentals, including a 14% rise in YouTube ad revenue. Currently, Google trades at 16.1x forward earnings, 42% below the S&P 500, suggesting potential for recovery.
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