Unveiled: NVIDIA's "Secret Royalty" Program (From Behind the Markets)
Why Alphabet Could Rally 30% Before Christmas 
The case for a robust end-of-year rally for shares of Alphabet Inc (NASDAQ: GOOGL) is building as we head into the year's final weeks. The tech giant, boasting a $2 trillion market cap, has had a somewhat bumpy ride this year. It had been enjoying a 130% rally from October 2022 into the start of this past July before giving up 20% by September. But in recent weeks, Alphabet has been climbing back up, and the bull camp has been getting louder, setting the stage for more gains before Christmas. Headquartered in California, Alphabet is perhaps best known for its Google search and online advertising brand. But the company's innovative efforts in AI and cloud services have analysts buzzing, especially as its Q3 earnings report approaches next week. Expectations are high, and investors should be excited about the upside potential. Let's jump in and see why that's the case. Dave Ramsey Is Dangerously Wrong And Here's Why>>
Asked whether we're on the cusp of a US Dollar crash, Dave Ramsey made a stunning miscalculation while live on air:
"Am I worried about this? Absolutely not."
Frankly, I've never seen someone so confident in being wrong…
Because what's happening to the US Dollar is not something you should "keep an eye on"…
But instead, is an imminent threat you should get ahead of right NOW. GET THE FREE GUIDE Analysts Bullish on Alphabet Heading Into the Final Quarter Fundamentally, the business has been performing well all year. Alphabet crushed expectations in its last earnings report, and analysts are understanding bullish heading into the year's typically bumper final quarter. Over the week alone, the teams at Truist Financial, Needham, Goldman Sachs, and Scotiabank all rated the stock as a Buy. Analysts' arguments were consistent. Each is bullish on Alphabet's growth story, especially as it continues to leverage artificial intelligence (AI) to enhance its product offerings, including recent AI upgrades to Google Shopping. Tempting Price Targets: Truist Names Alphabet a Top Pick for 2024 The team over at Truist went so far as to name it one of their top picks for the remainder of the year based on Alphabet's robust Q3 outlook and the bullish momentum currently being seen across the broader market. Their refreshed price target of $220 is close to the street-high target of $240. Considering Alphabet shares were trading around the 165% market during Wednesday's session, this is pointing towards a targeted upside of more than 30% in the coming weeks. Needless to say, it would also mean Alphabet shares would have soared to new highs. Moreover, the broader market is contributing to a risk-on environment. The S&P 500 is hitting fresh all-time highs, and with the Federal Reserve likely to cut interest rates soon, tech stocks like Alphabet are poised to benefit. Investors are flocking back to growth names, seeking companies with the potential for significant gains—and Alphabet fits that bill. Are you ready to capitalize on the booming AI market? Our experts have identified the top 10 AI stocks set to skyrocket. Download our free report today Legal Risks Persist, But Alphabet’s Resilience Supports Growth Outlook Some of the more bearish concerns are worth noting, especially those around the ongoing antitrust investigations by the U.S. Department of Justice. However, CEO Sundar Pichai recently brushed these aside and made it clear he's confident in the company's long-term outlook. In a recent interview, Pichai acknowledged the legal challenges but emphasized Alphabet's resilience, noting that "we will appeal, and this process will likely take many years. I'm confident, given that we are focused on innovating in the use of technology, we'll do well in the long run." Getting Involved: Alphabet Builds Momentum Ahead of Earnings Investors should look for the stock to continue building momentum as earnings approach. With analysts raising their price targets and broader market conditions favoring tech stocks in general, Alphabet's outlook is undeniably bullish. This stance is backed up by the stock's technical indicators, which are also on the side of the bulls. The stock's Relative Strength Index (RSI), which measures the speed and change of price movements, is sitting at a reasonably neutral 53. A reading between 30 and 70 typically signals healthy price action without being overbought or oversold, and so, at 53, Alphabet has a ton of room to continue rallying from here. Don't be surprised if it's sitting at fresh all-time highs, well above $200, by the time markets close for the holidays. Written by Sam Quirke Read this article online › Featured Articles: Did you like this article?  
| 
