Alphabet (GOOGL) Stock Up 3% as Cloud Growth Offsets Capex Fears
TLDR
- Alphabet stock climbed 2.6% in morning trading to $328.06, recovering from a 7% drop after Q2 earnings last Thursday
- Google Cloud revenue surged 82% year over year in Q2, with operating income up more than 200%
- The post-earnings selloff was driven by raised 2026 capex guidance of $195B–$205B and the company’s first-ever negative quarterly free cash flow
- Q2 revenue hit $119.8 billion with EPS of $9.11, both beating analyst expectations
- Analyst consensus remains a “Buy” with an average price target of $410.09, well above current levels
Alphabet stock climbed 2.6% Monday morning to $328.06, staging a partial recovery after its worst single-day drop in over a year. Last Thursday, the stock fell more than 7% following its Q2 2026 earnings release.
The selloff was tied to two things: Alphabet raised its 2026 capital expenditure guidance to $195 billion–$205 billion, up from $180 billion–$190 billion, and reported its first-ever negative quarterly free cash flow since its 2004 IPO.
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