While analysts acknowledged Alphabet's higher spending, they were also more optimistic than the stock's 3% slide Thursday morning seemed to suggest.
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Loop Capital's updated forecast implies a 19% upside going forward for shares of Alphabet.
The Street is taking a doubling in capital expenditures in stride.
Alphabet's artificial intelligence capabilities will lead the stock to further gains, according to Cantor Fitzgerald.
Analysts are betting on solid growth within Alphabet's cloud and search businesses. They're also expecting Meta's strong results…
Alphabet's cloud business is accelerating relative to competitors, analysts say
The company earned an adjusted $3.10 per share on revenue of $102.35 billion.
