Google’s Alphabet stock (NASDAQ: GOOG) has risen for five consecutive days, making traders catch the classic ‘fear of missing out’ (FOMO) feelings. Just by the end of last month, the tech giant was trading at $273 and hit $334.50 on Thursday’s opening bell. It delivered 23% returns in less than two weeks with a remarkable rebound in value.
The leading equity is now close to its yearly high of $344, which it reached in February. Another leg-up could take Google stock above the position, hitting a new yearly ATH. Investors are optimistic about Alphabet’s prospects, and analysts predict it could beat the market’s expectations.
Google’s stock has been updated from hold to ‘buy’ from various price prediction firms ahead of the earnings call. The Alphabet’s earnings call is scheduled for April 29, and all eyes are on the search giant. The run-up to the revenues call is among the reasons for GOOG to sustainably scale up in the charts.
Also Read: New Price Target For Google’s Alphabet Stock is $405, 23% Profit
What Are the Major Concerns Surrounding Google Stock Ahead of the Earnings?
The capital expenditure on its AI infrastructure is what’s dividing Wall Street on Google stock ahead of the earnings call. Since GOOG has risen by 23% in the last two weeks, concerns over its price peaking are making traders worried. Alphabet is now at a breaking point, and only the earnings call will dictate GOOG’s next direction in the indices.
Beyond earnings, several project releases are lined up for Alphabet with major tweaks in its operating models. The upcoming milestones could also add to the growth of Google’s stock prospects, making it a promising equity for the long term. The latest under its hat is the Gemini-powered Ask Maps, which enables conversational searching for personalized recommendations. The feature is rolled out in the US and is yet to launch worldwide.