Tech stocks, which led U.S. stock markets higher in the first half of the year, have struggled as a group in the second half, and most Big Tech companies are languishing below their 2024 highs, even as the broad-based S&P 500 Index ($SPX) and Dow Jones Industrial Average ($DOWI) have climbed to record highs.
Specifically, Alphabet (GOOG) stock - which is otherwise up a healthy 19.6% YTD - is not only slightly underperforming the Nasdaq Composite ($NASX), but is in correction territory after having fallen over 13% from its 2024 highs. In this article, we’ll see what’s wrong with the Google parent, and why it looks like a good stock to buy ahead of its Q3 earnings.
