Seven Reasons to Consider Buying this 'Magnificent Seven' Stock for Your Investment Portfolio

Reasons to Consider Investing in Alphabet:

Don't underestimate this magnificent stock. If you had invested $10,000 in Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) stock when it first began trading in 2004 as Google, you would have more than $550,000 today. I suspect every investor on the planet would love a 55-bagger.

1. A business that dominates multiple markets
   • Google Search ranks as the top search engine by far.
   • YouTube is the No.1 video sharing platform.
   • Chrome is the most widely used browser.
   • Android has the biggest market share in mobile operating systems.
   • Alphabet also has several other products that might not fully dominate their respective markets but still rank among the leaders.
2. Exceptional financials
   • Alphabet generated total revenue of nearly $307.4 billion in 2023.
   • It posted a profit of $73.8 billion.
   • The company finished last year with a massive cash stockpile of nearly $111 billion.
3. A huge AI opportunity
   • One tailwind for the company stands out above all others: artificial intelligence (AI).
   • AI should especially drive growth for the company's Google Cloud unit with an accelerated transition of IT spending to the cloud.
4. Waymo
   • Alphabet's Waymo unit is a leader in developing self-driving car technology.
   • Cathie Wood's ARK Invest projects that robotaxis could generate $9 trillion in sales by 2030.
5. Optionality
   • The company is a pioneer in quantum computing and more.
6. A reasonable valuation
   • Alphabet is the cheapest Magnificent Seven stock right now.
7. It's underestimated
   • Despite all of its strengths, Alphabet is still underestimated by many people.

Should you invest $1,000 in Alphabet right now? Before you buy stock in Alphabet, consider this: