智通财经网·2025-10-31 15:45Core Viewpoint - Alphabet's stock price reached a historic high of $291.93 following a strong Q3 earnings report that exceeded market expectations by over 20% [1] Group 1: Financial Performance - Q3 revenue grew by 16% year-over-year, with operating profit increasing by 10%, indicating effective cost control and improved profit margins [1] - Free cash flow surged by 38.7% year-over-year, driven by capital expenditures in AI and cloud computing [2] - Q3 revenue reached a record $102.4 billion, with Google Cloud revenue growing by 34% year-over-year and strong performance in YouTube advertising [2] Group 2: Market Position and Valuation - Analysts believe Alphabet's valuation remains attractive, with a forward P/E ratio of approximately 25.7, lower than the average for large tech stocks, suggesting potential for revaluation [2] - Alphabet is viewed as one of the most cost-effective options among the "Big Seven" tech companies, with strong growth potential and a robust business model [1] Group 3: Analyst Ratings and Price Targets - Evercore ISI raised its target price from $300 to $325, citing accelerated growth across major revenue lines [3] - Truist Securities increased its target price from $285 to $320, emphasizing the resilience of search advertising revenue amid intensified AI competition [3] - Barclays upgraded its target price from $250 to $315, highlighting revenue growth potential driven by AI [3] - Stifel noted a significant backlog of $155 billion in Google Cloud, indicating strong demand and growth prospects [3]