Alphabet (GOOGL 2.77%) (GOOG 2.50%) stock is rising Friday. The tech giant's share price was up 2.4% as of 3 p.m. ET amid a 1.5% gain for the S&P 500 and a 1.7% a gain for the Nasdaq Composite. The stock had been up as much as 3.1% earlier in the daily session.
The stock market has seen a historically volatile stretch of trading this week, but it appears to be poised to end the stretch on something of a high note. After substantial sell-offs yesterday, Alphabet stock is regaining some ground -- but it's still down roughly 17% across 2025's trading.
The Information reported today that Alphabet recently laid off hundreds of workers at its platforms and devices segment. While layoffs can sometimes be an indication that a business is struggling overall, that's probably not the case here. Instead, investors seem to be moderately positive on the news because it signals that Alphabet is taking a fiscally disciplined approach amid an uncertain macroeconomic outlook.
The broader market is also seeing recovery momentum Friday on the heels of yesterday's sell-offs on news that U.S. tariffs on imported goods from China would be set at 145% -- ahead of the 125% import tax rate that was mentioned by President Donald Trump on Wednesday. It's been an incredibly wild week for stocks, but Alphabet looks poised to end the week solidly in the green thanks to news that tariffs on all countries except China have been suspended for 90 days.
Following market volatility this year, Alphabet is now valued at approximately 17.4 times this year's expected earnings. Given the company's recent sales and earnings momentum and long-term growth potential, the company looks cheaply valued by conventional metrics. But business exposure to the Chinese market and macroeconomic uncertainty suggests that shares could continue to see volatile trading in the near term.
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