Group 1 - Investors perceive eBay as a stagnant former internet winner, while Alphabet is viewed as a tech giant, yet their valuations are surprisingly close [2][3] - Alphabet's stock price is considered relatively cheap, with a forward P/E ratio of 16.8, lower than its five-year average of 22.6 [2][4] - Bernstein analysts noted that Alphabet's stock is "almost as cheap as eBay," which has a forward P/E of 12.8, with only 29% of analysts holding a bullish view on eBay [2][3] Group 2 - The comparison of forward P/E ratios is significant as it provides an objective view of Alphabet's stock price, especially given its leadership in AI and other successful ventures [3][4] - Alphabet's search revenue growth is expected to slow down from 13.2% in 2024 to 7.2% by 2027, raising concerns about its future growth trajectory [4][5] - Analysts suggest that the current negative pricing of Alphabet's stock is due to its reluctance to split its business segments, similar to the situation eBay faced post-PayPal split [5][6] Group 3 - Alphabet's Q1 revenue reached $90.2 billion, exceeding Wall Street's expectations, and the management emphasized AI's role in improving ad targeting [6] - Despite strong financial performance, uncertainties surrounding Alphabet's growth potential and risks may deter investors from holding the stock [6]
谷歌沦为“新eBay”？市盈率跳水 便宜真的是买入信号吗？
Jin Shi Shu Ju·2025-05-16 09:34