Should you buy Google stock? (March 2024)

Published first at https://www.3minutebreakdowns.com Google stock analysis. Ticker: $GOOG $GOOGL Google stock jumped 5% on Monday on reports that Apple wants to use Google’s Gemini to drive generative AI for its new iphone. Looking at the fundamentals, Google now has a market cap of almost 1.9 trillion dollars. With $24 billion of cash, $118 billion of short term investments and $13 billion of debt, the enterprise value is $1.74 trillion. Revenue over the last 12 months comes to 307 billion with 74 billion of net income and 119 billion of adjusted ebitda. So Google stock is valued at 25 times earnings and just under 15 times EBITDA. This wouldn't be the first time that Apple has joined forces with Google. The original iPhone used Google Maps. And Google has been paying Apple $18 billion a year to be the default search engine on the Safari browser. Apple has so far been quiet on the AI front but a deal with Google could see Gemini being deployed on over 2 billion devices.. As noted by the New York Times, Gemini AI would leapfrog ChatGPT virtually overnight. That said, Apple needs to be confident in the quality of Google’s model. Google’s initial AI launch didn’t go to plan and Gemini has been accused of producing racially biased images. As a result, the company had to turn the feature off. #stocks #investing #stockstobuy #3mb