On October 30, 2025, Citigroup upgraded Alphabet Inc. (NASDAQ:GOOGL) to a "Buy" rating, setting a new price target of $343, up from $280. At the time, GOOGL's stock price was $274.57. Alphabet, known for its dominance in the tech industry, competes with other giants like Meta Platforms in the AI sector.
Alphabet's recent third-quarter performance has been impressive, with revenues reaching $102.4 billion, surpassing Wall Street's expectations of $99.85 billion. This strong performance was largely driven by Google Cloud, which saw a 34% increase in revenue, reaching $15.2 billion. The company's adjusted earnings per share (EPS) also exceeded forecasts, coming in at $2.87 compared to the expected $2.27.
In contrast, Meta Platforms faced challenges, with its stock declining by 8% in extended trading due to disappointing third-quarter results. Despite reporting revenues of $51.24 billion, slightly above expectations, Meta's EPS was a significant miss at $1.05, primarily due to a one-time tax-related charge. This highlights the differing financial outcomes and stock reactions between the two tech giants.
Alphabet's strong financial performance and positive market feedback have contributed to its current stock price of $274.57, reflecting a 2.65% increase. The stock has traded between $267.67 and $275.33 today, with a market capitalization of approximately $3.32 trillion. The trading volume on the NASDAQ is 38.49 million shares.
Meanwhile, Meta's announcement of increased AI spending has unsettled investors, leading to a substantial decline in its market value by tens of billions. The company's decision to raise its 2025 capital expenditure guidance to between $70 billion and $72 billion reflects its commitment to AI, but it also resulted in an over 8% drop in its share price.
