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Alphabet Inc.’s stock has benefited from changing investor perceptions this year. For one, the stock has transformed from an artificial-intelligence loser to an artificial-intelligence winner in the eyes of Wall Street.
All the while, the stock’s
GOOG GOOGL multiple seemingly caught the attention of Warren Buffett, whose recently disclosed third-quarter purchase of Alphabet shares suggested they can be — or at least recently could have been — thought of as a value play. While Alphabet’s stock has a forward price-to-earnings ratio of about 25x, that multiple was below 20x for much of the third quarter. It’s unclear when exactly in the period Berkshire Hathaway bought stock.
