Alphabet资本支出计划翻倍引市场担忧，股价承压

Core Viewpoint - Alphabet (GOOGL.OQ) announced that its capital expenditure is expected to double to between $175 billion and $185 billion by 2026, significantly exceeding analyst expectations, which has raised concerns about its return prospects and pressured its stock price [1] Stock Performance - Following the capital expenditure announcement, Alphabet's stock price experienced a significant drop in pre-market trading on February 5, although the decline narrowed later in the day, resulting in a net decrease [2] - This volatility coincided with a broader sell-off in technology stocks, with chipmaker AMD plummeting 17% and Palantir falling 12%, indicating market anxiety over the high valuations of AI assets [2] Institutional Perspectives - Kim Forrest, Chief Investment Officer at Bokeh Capital Partners, noted that Alphabet's stock decline reflects market concerns over the high prices of popular stocks, suggesting a need for a "reset" [3] - This perspective aligns with the trend of investors shifting from growth stocks to value stocks, focusing on the uncertainty surrounding capital expenditure returns [3]