Google Stock Is No Longer So Undervalued. Should You Buy or Sell GOOG Now?

Core Viewpoint - Alphabet's stock has rebounded significantly, reaching a record high and achieving a market capitalization of $3 trillion, joining the ranks of other major tech companies [1]. Stock Forecast - Wall Street analysts have raised their target prices for GOOG, with Baird increasing it from $215 to $275, Truist from $225 to $285, Citigroup and Tigress Financial to $280, and JMP Securities from $250 to $290 [2]. - Moffett Nathanson analyst Michael Nathanson raised his target price to $295, suggesting Alphabet could potentially surpass Nvidia as the world's most valuable company [4]. Performance Drivers - GOOG stock has increased by 42% over the last three months, driven by strong Q2 performance where search revenues rose by 11.7% and cloud revenues increased by 32% [6]. - Alphabet secured a significant six-year cloud deal worth $10 billion with Meta Platforms, further enhancing its market position [6]. Legal Developments - Alphabet received a favorable ruling in the Department of Justice antitrust case, allowing it to retain Chrome and Android, and continue its partnership with Apple, which solidified its default status on iPhones [7].