Alphabet Inc. (NASDAQ:GOOGL) is one of the stocks to buy according to billionaire Ray Dalio’s Bridgewater Associates. On October 13, Citizens maintained its Market Outperform rating on Alphabet Inc. (NASDAQ:GOOGL) with a $290 price target, ahead of the company’s October 29 earnings report. Despite Alphabet’s $2.87 trillion valuation, the firm flagged a notable shift: YouTube saw a 1.2% year-over-year decline in global time spent—the first drop since Citizens began tracking the metric.
Pixabay/Public Domain
The firm attributed this dip to rising competition from platforms like Instagram and TikTok, with TikTok’s global time spent surging 8.7% year-over-year. Citizens emphasized that its data excludes connected TV (CTV) viewing, a major component of YouTube’s overall engagement, suggesting the decline may not reflect total consumption.
Alphabet Inc. is a global technology conglomerate. It operates through Google Services, Google Cloud, and Other Bets. Its core businesses include Google Search, YouTube, Android, Chrome, and Google Cloud Platform.
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This article is originally published at Insider Monkey.
