Investing in the stock market requires a significant amount of dedication and hard work, regardless of your chosen investment strategy. Whether you focus on growth, value, income, or momentum, it takes a lot of effort to build a successful portfolio.
In recent news, Alphabet has been upgraded to a Zacks Rank #1 by the unique stock-rating model that highlights stocks with positive earnings estimate revisions and high institutional investor interest. As one of the most innovative companies in the tech industry, Alphabet offers an extensive range of products and services beyond its search engine origins.
Alphabet has expanded into cloud computing, ad-based video and music streaming, autonomous vehicles, and healthcare. With its dominant position in online search and strong market presence, Alphabet continues to experience growth in user adoption and advertiser activity. Analysts have raised their earnings estimates for Alphabet, with the Zacks Consensus Estimate increasing to $7.49 per share. Earnings are projected to grow 29.1% for the current fiscal year, with revenue projected to increase by 15%. Additionally, the stock has outperformed the S&P 500 over the past four weeks, indicating strong market momentum.
Given its #1 (Strong Buy) ranking, positive earnings estimate revisions, and market momentum