I added to my position in Alphabet Inc. (GOOG) as the company continues to demonstrate strong fundamental momentum across its core businesses. KeyBanc recently raised its price target to $370 while maintaining an Overweight rating, citing increased capital expenditure to support growth in Google Services and Google Cloud. Despite concerns about investment scale, operating performance remains robust. Search expanded through 2025, while Cloud backlog surged nearly 55% QoQ in the fourth quarter. Meanwhile, Gemini has already reached 750 million monthly active users. The investment case appears driven by earnings revisions rather than valuation expansion, suggesting durable long-term growth potential.
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