No. of Recommendations: 8
I still like Alphabet long-term. My position is already full-sized so my plan is to hold as my faith and the long-term thesis has not changed. They also seem to be becoming more disciplined and leaner. I added 1/3 of the position from Jan.-July 2022 priced in 140-115 range.
Risk/reward seems very reasonable now for a terrific company priced @92 with FPE-16.5, P/S-4.15, 25% margins and ROE and $90B net cash with inflation coming down, Fed set to pause soon and maybe a softish landing. Hope buybacks will accelerate down here. Trying to look well beyond the next 6-12 months. They just seem very well positioned - Search, cloud, YouTube, YouTube TV, NFL package next year not to mention Waymo and Other Bets.
