Google, Alphabet
Digest more
Alphabet stock just flashed a dreaded 'death cross'
Digest more
A historic drop for Alphabet's stock dragged the U.S. stock market lower
Investors balked at Alphabet pouring $51.4 billion into capital expenditures, like buying data centers and ramping power capacity, in just three months.
U.S. stocks declined, led by the Nasdaq Composite, after Alphabet’s earnings disappointed investors and sparked another bout of AI worries.
Google reported third-quarter revenue and profit that missed analyst estimates as its core search business grew more slowly than expected while boosting its spending on AI again to surpass $50bn.
Alphabet's stock is down nearly 13% after Thursday's open and on track to shed $488 billion in market capitalization on the day, according to Dow Jones Market Data. That would amount to the second largest one-day loss of market cap for any U.
Every weekday, the Investing Club releases the Homestretch, an actionable afternoon update just in time for the last hour of trading.
