Alphabet(GOOGL.US) 's 2Q24 results shows solid performance in its search and other businesses, beating the expectations of Goldman Sachs and the market, with accelerating revenue growth in cloud business, Goldman Sachs released a research report saying.
Operating margins benefited from the healthy development of the cloud computing market and the AI trend, while its YouTube ads is facing tougher competition.
Envisioning that Alphabet can stick to its AI first positioning, Goldman Sachs reiterated rating at Buy, and raised its target price to US$217 from US$211.
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