Jim Cramer Says "We Sold Alphabet at the Wrong Time"

Alphabet Inc. (NASDAQ:GOOGL) is one of the stocks Jim Cramer recently talked about. Highlighting the reason behind the Charitable Trust’s decision to keep AMZN, Cramer expressed regret over selling Alphabet stock at the wrong time. He said:

“See, look at the action in Alphabet. Have you seen it? Earlier this year, concerned about Justice Department’s attack on the company over monopolist behavior, worried that Gemini, its AI agent, will cannibalize the search function, we sold this stock for the trust. Now you know, I believe in no woulda, shoulda, coulda. Don’t be a second-guessing so and so, especially over a winning position. We had a winning position going. Worry about the losers. But man, we sold Alphabet at the wrong time. We left a hundred points on the table. My worries, they were misplaced. The Justice Department was no more able to hobble Google for any competitive practice than it was with Microsoft…

Now, I knew that Alphabet, parent of Google, was much more than just search. It had the cash machine that is YouTube, incredibly fast-growing cloud service business led by Thomas Kurian, one of the smartest execs I know. It has the self-driving kingpin, that is Waymo. It has a whole bunch of great projects that we barely even know about… But I couldn’t get over the supposed cannibalization from AI, and I certainly couldn’t handle a judge who seemed eager to destroy Google as we knew it. So the trust sold the stock despite the fact that it was inexpensive on a price-to-earnings ratio.”

Alphabet Inc. (NASDAQ:GOOGL) provides digital products and platforms including Search, YouTube, Android, and Google Play, and offers enterprise solutions.

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