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Here's Why Alphabet Is Even Cheaper Than It Looks

·6 min read
Here's Why Alphabet Is Even Cheaper Than It Looks
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Year to date, Alphabet is down nearly 27%, based on fears of a cyclical slowdown in advertising dollars. With pessimism now being extrapolated across the digital advertising space, Alphabet looks quite cheap indeed -- even cheaper than its headline earnings would suggest. Of note, Alphabet's price-to-earnings ratio, based on trailing-12-month earnings, has fallen all the way to 19.4.