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Barchart
Mark R. Hake, CFA

Alphabet Stock Is Powering Higher, But Is Still Cheap Based on Historical Metrics

Alphabet Google

Alphabet (GOOG, GOOGL) stock is up over 5.69% in the last month and over 39% YTD. Nevertheless, it still looks cheap based on historical metrics. That makes shorting out-of-the-money (OTM) put options an attractive play for income traders.

For example, analysts project that the company will make $5.34 per share this year (GOOG) and $6.27 next year. So, at today's price for GOOG stock today of $124.67, this puts it on a forward multiple of 23.3x for 2023, and 19.9x for 2024.

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