Technology stocks have largely been driven by a narrow leadership group, the so-called Magnificent 7. Over the past 12 months, however, Alphabet (NASDAQ: GOOGL) has quietly outperformed every other member of that elite cohort.
Most investors attribute that outperformance to the obvious drivers: consecutive quarterly earnings beats, resilient growth in Search, accelerating momentum in Google Cloud, expanding profitability, and visible leadership in artificial intelligence. Even Waymo has begun shifting from a long-term experiment to a tangible commercial opportunity.
