Buffett’s Alphabet Blessing Puts Valuation Paradox Back in Focus

Just six months ago, Alphabet Inc. investors feared the company could be a casualty of the artificial intelligence revolution. But after a trillion-dollar rally those concerns have flipped, and now the biggest worry is if the stock is getting too expensive for its own good. Shares of the Google parent are up nearly 60% this year, making them by far the top performer among the Magnificent Seven technology giants. They’re also the second biggest point contributor to the S&P 500 Index’s roughly 15% gain in 2 ...