Alphabet

Alphabet is the holding company wrapped around Google, and Google is still, overwhelmingly, an advertising business. Search remains the most valuable piece, capturing intent from billions of queries and monetizing it, with YouTube and the broader ad network adding to the haul. Around that core sit Google Cloud, now large and finally profitable, the Android operating system, and Waymo's self-driving cars. The structure dates to a 2015 reorganization that put the moneymaking Google under a parent and separated the long-shot other bets. Founded as Google in 1998 and based in Mountain View, California, the company faces two defining pressures: antitrust cases challenging its search and ad dominance, and the risk that AI chatbots erode the search habit that funds everything. Its own Gemini AI models are the counterpunch, and how that fight goes will shape the stock.

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