Alphabet资本支出计划翻倍引发市场担忧，股价承压

Core Viewpoint - Alphabet's capital expenditure plan for 2026 is expected to double to between $175 billion and $185 billion, exceeding analyst expectations by over 50%, aimed at alleviating AI computing power bottlenecks, which has raised market concerns about its return prospects, leading to pressure on the stock price [1] Stock Performance - Following the announcement of the capital expenditure plan, Alphabet's stock price experienced a significant drop before the market opened on February 5, although the decline narrowed later, resulting in a closing drop for the day. This volatility coincided with a broader sell-off in tech stocks, with AMD falling 17% and Palantir down 12%, reflecting market anxiety over high-valued AI assets. Over the past week, Alphabet's stock performance has been correlated with the overall pullback in the tech sector [2] Institutional Perspectives - Kim Forrest, Chief Investment Officer of Bokeh Capital Partners, noted that Alphabet's decline reflects market concerns over the high prices of popular stocks, indicating a need for a "reset." This perspective aligns with the trend of investors shifting from growth stocks to value stocks, focusing on the uncertainty of returns from capital expenditures [3]