Jim Cramer on Alphabet: "Business is Very, Very Strong"

Alphabet Inc. (NASDAQ:GOOGL) is one of the Magnificent Seven stocks Jim Cramer commented on. During the episode, Cramer noted that all divisions of the company put up good numbers, as he said:

“Third, Alphabet. Google Search and YouTube are doing amazingly well. You know what, I thought that Gemini, their AI platform, would cannibalize regular Google. Wrong. It hasn’t. Instead, they’re complementary. Business is very, very strong. And Alphabet had a remarkable quarter for all divisions, including Waymo… which is building a nice lead over the rest of the autonomous vehicles in the space. They, Microsoft, Meta are buying a gigantic number of NVIDIA chips and that’s who wins.”

Alphabet (NASDAQ:GOOGL) provides digital products and platforms, including Search, YouTube, Android, Google Cloud, and Google Workspace. The company also invests in emerging technologies and has significant operations in toward development of AI. Cramer discussed the company’s earnings in a July episode. He commented:

“Let’s talk about Alphabet, parent of Google. That was the star of the after-hours show, beating sales and earnings estimates and delivering strong numbers in the cloud, AI, even in Search, where there were concerns that Gemini, their AI bot, might be cannibalizing that incredibly valuable franchise. Gemini, turns out, has 450 million monthly average users. That’s fantastic. One of the big reasons why the stock exploded during the conference call…

All parts of the data centers are strong. We know that even from tonight, with the numbers from Alphabet, which is putting in a lot more CapEx than anyone thought they would… You know what? People are going nuts for Alphabet today, and that’s going to spill over tomorrow. That stock’s been a horse.”

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Disclosure: None. This article is originally published at Insider Monkey.