Alphabet Stock Finally Got What It Deserved (Rating Upgrade)

Alphabet is upgraded to Buy after a sharp post-earnings drop brings valuation closer to fair value, despite persistent transparency concerns. Q3 2026 saw double misses: revenue up 25% YoY to $127.6B, EPS down 26% YoY to $2.12, and negative free cash flow of $9.1B. Cloud revenue grew 103% YoY, but lack of disclosure on customer concentration—especially Anthropic and SpaceX—raises sustainability and risk questions.