Added to YB: 2025-12-13
Pitch date: 2025-12-12
GOOGL [neutral]
Alphabet Inc.
Author Info
No bio for this author
Company Info
Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America.
Market Cap
$3.8T
Pitch Price
N/A
Price Target
N/A
Dividend
0.27%
EV/EBITDA
24.75
P/E
30.83
EV/Sales
9.66
Sector
Interactive Media and Services
Category
N/A
Google: The 10-Year Bear Case
GOOGL (bear case): At 76x FCF vs 31x earnings, market assumes AI investments temporary but they're permanent maintenance CapEx. AI shifts Google from low-cost search monopoly to airline-like dynamics: extreme capital intensity, commoditized products, fierce competition eroding pricing power. Higher inference costs, accelerated depreciation, defensive moves without monetization suggest structurally lower returns. Valuation embeds perfection in industry that will barely meet cost of capital.
Read full article (8 min)