Alphabet: Generational Buy Opportunity

Alphabet Inc. delivered 24.7% Y/Y revenue growth in Q3, despite missing EPS and revenue expectations due to an unrealized SpaceX loss. GOOGL's Google Cloud revenue doubled to $30.7B, with operating income tripling and backlog rising to $561B, supporting long-term growth prospects. Aggressive CapEx ($51.4B in Q3) led to negative FCF, but investments are fueling AI and cloud momentum, with potential for Google Cloud to rival past company-wide revenues.