Skip to contentHome page Seeking Alpha - Power to InvestorsNov 01, 2026, 9:04 PM ETAlphabet Inc. (GOOG) Stock, GOOGL Stock, GOOG:CA Stock, ZGOO:CA StockKL Research409 FollowersSummaryAlphabet shares have underperformed in 2026, weighed by AI disruption fears, negative FCF, and a double miss in 3Q26 earnings.I see Google's underappreciated AI infrastructure role, with Google Cloud's accelerating growth and external TPU sales providing a resilient, model-agnostic hedge.Gemini 4.0's release reestablishes GOOG as a frontier AI leader, with monetization upside from subscriptions and ad load expansion in AI Overviews.My SOTP valuation yields a $339 target price (22% upside), with current market multiples undervaluing Waymo, Cloud, and strategic investments.Getty ImagesIntroduction2026 has been a disappointing year for Google shareholders, with shares trading sideways. This has been further exacerbated by Google's 3Q26 double miss.That said, Google remains a victim of headline volatility, led by AI disrupting itsThis article was written byKL Research409 FollowersA long-term investor focused on quality growth stocks at a reasonable price. My investment objective is to identify market asymmetries with positive reward-to-risk. I invest in high-quality, wide-moat companies that generate strong cash flow and trade at a fair price relative to their value. Please feel free to subscribe to my channel to support its development.Analyst’s Disclosure: I/we have a beneficial long position in the shares of GOOG, AMZN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.CommentsTo ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.Is this happening to you frequently? Please report it on our feedback forum.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.