History Says Alphabet Stock's 15% Pullbacks Have Usually Paid Off Within a Year
Nine of the past 10 times this happened, the stock was up a year later. Is this one different?
Overview
Alphabet (NASDAQ:GOOGL)(NASDAQ:GOOG) set a record close of $402.62 on May 13. As I write, shares sit near $344, about 15% under the high, even though the Google parent's revenue growth has sped up in each of the past two quarters.
The stock first closed over 15% below its May record on June 26. Its lowest close since then, about $318 on July 23, was the day after management lifted its capital spending forecast again.
Details
This has happened before. Using daily closing prices of the Class A shares, I found 10 times from 2012 through 2025 when the stock first closed at least 15% under a record. In nine of them, shares were up 12 months later.
Source
Originally published at www.fool.com.
Related Articles
- CFTC Chairman Michael Selig Predicts a Massive Wave of Asset Tokenization. Here's How to Get Ahead of This New Investment Trend.
- Sprinklr CEO Sells 145,865 Shares for $810,000 Amid a 35% One-Year Stock Price Decline
- Will Netflix Stock Trade for $135 or $70 by September 2027? Here's the Most Likely Scenario.