#2 - Alphabet (NASDAQ:GOOGL)
Another one of the “big tech” companies that continue to display an ability to adapt to changing markets is Alphabet (NASDAQ:GOOGL), the parent company for Google. And Google is the parent of YouTube, which is where I want to focus. YouTube has already benefited from being in the Google portfolio. The digital channel, which was once the domain of low production “How To” videos, is now the world’s largest video platform and reaches over 1 billion users per month. It’s also the world’s second largest search engine.
Mostly due to its relationship with Google, YouTube has shown itself to be amazingly adaptive. And I anticipate more of the same as businesses go back to anything but usual. Conventions are being cancelled or postponed. Putting aside the increased emphasis on the health of its employees, many companies may be pleasantly surprised at the cost savings gained from digital conferencing.
With that said, while there’s no doubt that on-site conventions won’t disappear completely, it’s not hard to imagine that some conventions will go entirely digital. In this current environment, companies are trying to simulate an in-person experience through a mix of webinars, teleconferences, Slack channels, Twitter chats, etc. And that’s an opportunity for a platform like YouTube to capture additional market share.
About Alphabet
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
Read More - Current Price
- $175.30
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 35 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $205.90 (17.5% Upside)
