Broader markets continue to tumble as the Iran war has sent crude oil prices soaring over $100 a barrel. If energy prices sustain at these levels, it might spoil the fiscal and monetary policy math for many countries, and it won’t exactly be a “small price to pay” for the Iran war, as President Donald Trump has said. Meanwhile, barring some sectors, particularly oil producers, stocks have pretty much fallen left and right amid the meltdown.
Alphabet (GOOG) (GOOGL), which was the best-performing “Magnificent 7” stock last year, has fallen 14% from its 2026 highs and is down 4.4% for the year. In my previous article, I had noted that I did not find Alphabet stock a buy amid the software sell-off. With GOOG only extending its year-to-date drawdown, let’s explore whether the stock has now entered a “buy zone” after falling to near $300 price levels. But first, we'll analyze the ways that higher energy prices impact Alphabet.
