After a stunning 40% run since September, Alphabet Inc. (NASDAQ: GOOGL) hit an all-time high in early February before experiencing a post-earnings pullback. The 10% decline in recent weeks may have shaken some investors, but this could be a golden buying opportunity for those paying attention.
While the earnings report contained a revenue miss that spooked the market, it's worth remembering that Alphabet still posted record-breaking revenue, driven by a 30% surge in Google Cloud growth. Combine that with the stock approaching oversold levels and a continuing wave of almost universal bullish analyst support, and the argument for stepping in at current levels becomes hard to ignore.
