Google parent Alphabet ‘s (ticker: GOOG) stock dropped 34% in 2022 as revenue growth slowed and investors worried about weaker search-advertising trends. Alphabet ‘s core price/earnings ratio is even lower, given losses at its Other Bets businesses, including Waymo, a leader in autonomous vehicles. Investor Joe Rosenberg, formerly chief investment strategist at Loews, thinks Alphabet has gotten too fat, and agrees with U.K. investor Chris Hohn, who wrote a letter to Alphabet CEO Sundar Pichai arguing “that the cost base of Alphabet is too high and that management needs to take aggressive action.” Read More...
Google parent Alphabet ‘s (ticker: GOOG) stock dropped 34% in 2022 as revenue growth slowed and investors worried about weaker search-advertising trends. Alphabet ‘s core price/earnings ratio is even lower, given losses at its Other Bets businesses, including Waymo, a leader in autonomous vehicles. Investor Joe Rosenberg, formerly chief investment strategist at Loews, thinks Alphabet has gotten too fat, and agrees with U.K. investor Chris Hohn, who wrote a letter to Alphabet CEO Sundar Pichai arguing “that the cost base of Alphabet is too high and that management needs to take aggressive action.”
