Feb. 23, 2026 8:07 AM ETAlphabet Inc. (GOOG) Stock, GOOGL Stock, GOOG:CA Stock, ZGOO:CA StockSPACEEnvision ResearchInvesting Group LeaderComment(1)SummaryAlphabet delivered a double beat in FQ4, but updated CAPEX guidance for 2026 caused market concerns.These concerns are short-sighted.GOOG’s investment in SpaceX and 100-year bond offering illustrates its long-term moat: a dual-track strategy combining robust current income and high-risk bets.As if this strategy were not powerful enough, the company is also blessed with the option to leverage at a low rate and long term.Looking for a portfolio of ideas like this one? Members of Envision Early Retirement get exclusive access to our subscriber-only portfolios.