What's Going on with Alphabet Stock? 3 Things Investors Should Know

Alphabet delivered strong Q3 2026 revenue growth of 25% to $127.6 billion, with Google Cloud revenue doubling. However, investors are concerned about AI-powered search generating less ad revenue than traditional search and the company's massive $195-205 billion annual capital expenditure on AI infrastructure. While Google Cloud shows promise with $561 billion backlog and improving profitability, investors should monitor Search advertising resilience, Google Cloud profitability, and returns on AI investments.