| | | Patient Investors Should Buy Hard-Hit Alphabet Stock
Long-term investors can buy into this high-quality tech name at a great entry point
By Thomas Niel
- Google parent Alphabet (NASDAQ: GOOG, NASDAQ: GOOGL) continues to trend lower
- However, the factors impacting its performance are temporary in nature
- Today’s prices may be a great entry point for investors with a long time horizon
Source: IgorGolovniov / Shutterstock.com
Between an earnings miss and a market unfavorable to tech stocks, Alphabet (NASDAQ: GOOG, NASDAQ: GOOGL) has lost its edge. This could continue to be the case for GOOG stock in the near term. External worries about the economy, along with concerns about the tech giant’s future growth, could continue to affect its performance.
With this in mind, I wouldn’t buy into Alphabet today in anticipation of a quick turnaround.
However, if you are looking at this as a potential long-term position, buying this high-quality tech stock today is worth it.
Pushed to a low valuation due to all the uncertainty, its current price is a great entry point. Although it may take time, shares in the Google parent could pay off for investors willing to wait for a comeback. |
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