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Considering Nasdaq and the technology sector's struggle, how is Google faring?
In 2021, Google stock finally beat the other FANG stocks. Alphabet (GOOGL), the parent company of Google, beat over Facebook (FB), which was renamed Meta Platforms, Amazon.com (AMZN), and Netflix (NFLX). In 2021, Google's shares increased by 65
Alphabet announced earnings and sales for the September quarter that above analyst expectations. While income from internet search advertising exceeded forecasts, sales of YouTube and cloud computing were disappointing in Google's quarterly report. Nonetheless, in the business market, Google Cloud is gaining popularity. Google continues to increase its investment. Morgan Stanley predicts a large rise in hiring in 2022. As the coronavirus emergency subsides, GOOGL stock may face increasingly tough year-over-year growth comparisons in 2022.
In the September quarter, Alphabet repurchased $12.6 billion of GOOGL shares, compared to $12.8 billion in the previous quarter. As Covid-19 vaccines grow, Google stock bulls see a resurgence in digital advertising, boosting global economies as sectors stabilize. GOOGL stock has tumbled off of the IBD Leaderboard after a long run. IBD's Leaderboard is a selected ranking of the best stocks based on technical and fundamental measures.
The Play Store's revenue growth continues to be a bright area, thanks to the Android mobile operating system being incorporated into devices sold all over the world. However, a federal judge decided on Sept. 10 that Apple (AAPL) must enable mobile app makers to direct users to third-party payment methods, granted Epic Games' injunction request after a year-long legal struggle.
The policies of Google have also been scrutinized. In October, Google announced that service costs on its Play Store will be reduced to 15% from 30% in the first year. The change will result in a drop in revenue.
While Google has grown into cloud computing and consumer products, its primary source of revenue remains digital advertising. Google said on June 24 that it will postpone plans to end support for third-party cookies in its Chrome browser until late 2023, two years later than planned.
According to a report from market research company eMarketer, Amazon is stealing market share from Google in online search-related advertising. With Amazon gaining traction in digital advertising, Google changed the way it handles e-commerce listings in 2020. Google has also strengthened its relationships with Shopify (SHOP), an e-commerce software supplier.
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