Alphabet Inc (GOOG)

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Alphabet (GOOGL) Makes Morningstar List of Undervalued Mega-Caps
By: TheStreet | May 12, 2022

• The S&P 500, which is dominated by mega-cap stocks, has dropped 17% this year. But there may be opportunities.

The S&P 500, which is dominated by mega-cap stocks, has dropped 17% so far this year.

While it’s only natural for investors to be freaked out by the move, there may be some buying opportunities amid the carnage.

Morningstar lists five “market leaders” among the market’s 10 biggest stocks, as measured by market capitalization.

Alphabet GOOGL

Morningstar analyst Mogharabi puts fair value at $3,600, compared to a recent quote of $2,255.

In the first quarter, Alphabet’s revenue rose 23% year-over-year, boosted by advertising and cloud services.

But YouTube experienced a deceleration in ad revenue growth.

Still, while management expects YouTube’s revenue slowdown to continue this quarter, it could accelerate in the fourth quarter, Mogharabi said.

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