Alphabet CEO Sundar Pichai Just Made a Decision That Could Move Nvidia and Broadcom Stock
Alphabet's growth opportunities look like an embarrassment of riches.
Overview
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) posted blowout second-quarter results on July 22. Many of the headlines focused on the company's cloud business, and with good reason. Google Cloud's sales were $24.8 billion, 82% higher than the year-ago period. Sales growth in this business accelerated significantly from the 63% Alphabet recorded in the previous quarter, and the tech leader also ended the period with a $514 billion cloud backlog.
Alphabet could continue to see its cloud business perform well in the next few years, and the company recently began recording a new revenue stream that may become a meaningful growth driver over time, while also affecting other companies such as Broadcom (NASDAQ: AVGO) and Nvidia (NASDAQ: NVDA). Here's what investors need to know.
Image source: The Motley Fool.
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Originally published at www.fool.com.