Alphabet (GOOG 1.74%) (GOOGL 1.69%) is perhaps the least-loved "Magnificent Seven" stock of all. Many investors are fearful of its base business being disrupted by generative AI products, but that weakness hasn't surfaced yet. Additionally, Alphabet has some other business units that are cashing in on the AI arms race and boosting its overall growth.Alphabet's stock appears absurdly cheap right now, and investors willing to buck the trend can find huge value in its shares. Alphabet's base business is still ...

核心观点 - "Magnificent Seven"由微软、英伟达、苹果、亚马逊、Alphabet、Meta Platforms和特斯拉组成 这些公司引领市场并带来可观回报 [1][5] - Alphabet是其中估值最低的股票 当前股价处于极低水平 可能是一个极佳的投资机会 [1] - Alphabet的广告业务占其总收入的75% 是其利润主要来源 同时支持其在谷歌云和Waymo等高增长领域的再投资 [3] - 尽管面临经济周期和生成式AI的挑战 Alphabet的财务表现依然强劲 第一季度净利润增长46% 收入保持两位数增长 [12][7] - Alphabet当前17 6倍的前瞻市盈率显著低于标普500指数的22 4倍 也远低于"Magnificent Seven"中第二便宜的Meta Platforms的26 3倍 [10][12] 业务构成 - Alphabet旗下拥有谷歌、YouTube、Android操作系统和Waymo等多个知名品牌 [3] - 广告业务是其核心 第一季度谷歌搜索和YouTube广告均实现10%的同比增长 [4] - 谷歌云和Waymo等高增长领域正在获得广告业务利润的再投资支持 [3] 风险因素 - 广告业务具有周期性 经济衰退可能导致广告预算削减 [4] - 生成式AI技术可能威胁谷歌搜索的主导地位 但公司已推出AI Overviews功能 拥有超过15亿月活跃用户 [6] - 面临反垄断诉讼风险 可能被判定在广告平台和搜索引擎领域构成非法垄断 [8] 财务表现 - 第一季度净利润增长46% 在"Magnificent Seven"中仅次于英伟达的64% [12] - 收入增长表现中等 超过亚马逊、苹果和特斯拉 [12] - 当前17 6倍的前瞻市盈率显著低于市场和其他同行业公司 [10][12] 估值分析 - 与标普500指数22 4倍的前瞻市盈率相比 Alphabet的17 6倍显得被低估 [10] - 在"Magnificent Seven"中估值最低 比第二便宜的Meta Platforms低约33% [12] - 考虑到其增长速度和财务表现 当前股价可能存在显著低估 [13]

Alphabet (GOOG 1.14%) (GOOGL 1.48%) recently gave investors some encouraging news during its first-quarter earnings release, including a better-than-feared result that was relatively upbeat for the rest of the year. This flies in the face of many investors' concerns regarding the effects of tariffs, but we'll see how tariffs affect Alphabet as we move along throughout the year.During its Q1 earnings report, the company also made one exciting announcement: A $70 billion share repurchase authorization. This i ...