Alphabet (GOOG) Class C Stock: December 2025 Outlook, Latest News and 2026

Alphabet Inc.’s Class C shares (NASDAQ: GOOG) are ending 2025 close to record highs, powered by blowout earnings, a full‑throttle push into AI, and even a windfall from SpaceX. At the same time, the company is wrestling with landmark antitrust remedies and fresh scrutiny of self‑driving unit Waymo.

Here’s a deep look at how GOOG has traded since 21 November 2025, the most important news hitting the stock, and what Wall Street and various forecasting models expect for 2026–2030.

Where Alphabet (GOOG) Stock Stands in December 2025

As of 10–11 December 2025, Alphabet Class C shares trade around $321, giving the company a market value just under $3 trillion. ^[1]

Key snapshot:

Price: about $321
52‑week range: roughly $143–$329, with an all‑time high closing price around $323 on 25 November 2025. ^[2]
P/E ratio (trailing): around the low‑20s, roughly 23–24x earnings.

From 21 November 2025 (when GOOG closed just under $300) to mid‑December, the stock is up a bit over 7%, and it’s roughly two‑thirds higher year‑to‑date, marking its longest multi‑month winning streak in years. ^[3]

In November alone, GOOG jumped 13.9%, even as the Nasdaq wobbled amid renewed “AI bubble” talk. ^[4]

What Changed After 21 November 2025?

1. DOJ ad‑tech remedies: Google pushes back

On 21 November 2025, the U.S. Department of Justice’s latest proposal in its ad‑tech antitrust case landed squarely on Alphabet’s ad business. The DOJ proposed breaking up Google Ad Manager, arguing that structural remedies are needed after earlier findings that Google abused its dominance in online advertising. ^[5]

Google quickly responded that the proposal to break up Ad Manager is “unworkable” and would inject “significant uncertainty and disruption” for advertisers and publishers, while pledging to keep pushing for a remedy that satisfies the court without dismantling its ad stack. ^[6]

Why it matters for GOOG:

Display and YouTube ads are still huge cash generators; any forced breakup of ad tools could chip away at integration advantages and margins.
The DOJ’s search‑antitrust remedies trial (covering Chrome, Android defaults and data‑sharing) is already underway, with potential for more structural changes in 2026. ^[7]
Yet the stock has rallied since 21 November, suggesting investors currently see antitrust as a long, manageable overhang rather than an immediate thesis‑breaker.

2. SpaceX windfall: A quiet but powerful catalyst

Alphabet’s 2015 $1 billion investment in SpaceX, made alongside Fidelity when the rocket company was valued around $10 billion, has become a huge hidden asset. ^[8]

New reports in December say:

SpaceX is targeting a $1.5 trillion valuation in a planned 2026–27 IPO, aiming to raise more than $30 billion. ^[9]
That implies Alphabet’s stake could be worth around $111 billion, up from a sub‑$1 billion initial outlay, and Alphabet has already booked about $8 billion in unrealized gains on SpaceX in its financials. ^[10]

This potential windfall doesn’t change Google’s operating performance, but it boosts balance‑sheet strength and gives Alphabet yet another strategic tie‑in to satellite internet and space‑based data‑center infrastructure.

3. Alphabet’s record run and AI chip ambitions

Several recent pieces of analysis highlight that Google’s stock is in its longest monthly bullish streak in years, up about 13–14% in November and roughly 66% year‑to‑date. ^[11]

A December AI‑stocks forecast from CFI notes that:

Google’s rally is being driven partly by demand for its custom AI chips (TPUs).
Alphabet is reportedly in talks with Meta Platforms about multi‑billion‑dollar AI‑chip purchases for 2027 and beyond, positioning Google as a more serious rival to Nvidia in AI infrastructure. ^[12]

At the same time, Google’s latest Gemini 3 model, integrated across Search, YouTube and Android, signals that the company aims not only to use AI internally but to monetize it as a platform and infrastructure provider. ^[13]

4. Waymo recall: Safety and regulatory optics

On 11 December 2025, Alphabet’s self‑driving unit Waymo disclosed a recall of 3,067 vehicles in the U.S. due to a software bug in its 5th‑generation automated driving system that sometimes caused cars to improperly pass stopped school buses. ^[14]

NHTSA said the issue has been fixed via a software update, with all affected vehicles updated by 17 November.
The recall follows at least 19 reported incidents in Texas where Waymo cars passed school buses illegally, and regulators have requested detailed responses by January 20. ^[15]

Financially, Waymo is still tiny relative to Alphabet’s core business, but the episode underscores regulatory and reputational risk around Alphabet’s “Other Bets.”

Q3 2025 Earnings: The Fundamental Engine Behind the Rally

Most of today’s enthusiasm for GOOG rests on Alphabet’s third‑quarter 2025 results, reported on 29 October.

Highlights from the Q3 release and subsequent coverage: ^[16]

Revenue: $102.3 billion, up 16% year‑over‑year, the first quarter in Alphabet’s history to cross the $100 billion mark.
Google Services (Search, YouTube, subscriptions, Android, hardware): revenue up 14% to about $87 billion with double‑digit growth across Search, YouTube ads and subscriptions.
Google Cloud: revenue up roughly 34% to $15.2 billion, beating expectations and highlighting traction in AI infrastructure and generative‑AI solutions.
Net income: about $35 billion, up 33%, with EPS climbing from $2.12 to $2.87 (about 35% growth).
Operating margin improved to roughly 31% even after a €3.5 billion European Commission fine; excluding the fine, operating margin would have been closer to 34%. ^[17]

Alphabet also raised 2025 capital‑expenditure guidance to $91–93 billion, up from prior guidance of $85 billion, to build out data centers and AI infrastructure. ^[18]

A subsequent Morningstar note and other analyses emphasize that:

AI‑infused Search, YouTube, and Cloud are all growing double‑digits.
Alphabet’s Cloud backlog reached around $155 billion, offering multi‑year visibility. ^[19]

This earnings momentum is central to the bullish narrative that’s been reinforced in late November and early December.

Analyst Sentiment on GOOG in December 2025

Consensus ratings: “Strong Buy” across the board

Several major aggregation platforms show very similar pictures for Alphabet’s Class C shares:

Investing.com: 66 analysts in the past 3 months; 57 “Buy”, 9 “Hold”, 0 “Sell”, consensus rating “Strong Buy.” The average 12‑month price target is about $320.43, essentially flat (‑0.2%) versus the current price. ^[20]
StockAnalysis.com: 43 analysts tracking GOOG show a “Strong Buy” consensus with an average target of $302.4, implying about ‑5.8% downside from $321. ^[21]
TipRanks: recent data for GOOG lists 16 analysts, with 15 buys and 1 hold, and again no sells, also labeling GOOG a “Strong Buy.” ^[22]

So: ratings are overwhelmingly bullish, but average price targets cluster around or slightly below today’s price, reflecting how fast the stock has run.

High‑conviction bulls are raising targets

Beneath the flat-ish averages, several high‑profile analysts have boosted their targets since late November: ^[23]

Pivotal Research (Jeffrey Wlodarczak) maintains a $400 target — about 25% upside from current levels — and frames Alphabet as a potential $5 trillion company within a few years, driven by AI monetization and TPUs. ^[24]
Truist Securities recently raised its target from $320 to $350 (roughly 9% upside). ^[25]
Guggenheim lifted its target from $330 to $375 (around 17% upside). ^[26]
BNP Paribas Exane initiated coverage with a $355 target, about 11% above the current price. ^[27]

At the other end, DA Davidson maintains a more cautious $300 target (mid‑single‑digit downside). ^[28]

A Fintel/Nasdaq summary notes that across a broader universe of forecasts, the average 12‑month target around mid‑November was $309.78, with a wide range from $187 to $368, and a put/call ratio of just 0.74, indicating bullish options positioning. ^[29]

Longer‑Term Forecasts for GOOG (2026–2030)

Beyond the next 12 months, several sources try to map out Alphabet’s trajectory:

Wall Street fundamentals

StockAnalysis aggregates analyst models that imply: ^[30]

Revenue 2025: about $410.7 billion, up 17.3% from 2024.
Revenue 2026: about $465.6 billion, up 13.4% from 2025.
EPS 2025:$10.89, up 35.4% vs 2024.
EPS 2026:$11.47, up 5.2% vs 2025.

In other words, analysts expect:

A big earnings step‑up in 2025 as AI and efficiency gains flow through.
More moderate growth in 2026 as Alphabet laps huge AI and cloud investments.

2030 targets and AI‑driven scenarios

A Benzinga/Yahoo‑syndicated piece on “GOOG Stock Price Prediction” (22 November 2025) cites analysts who think Alphabet could reach about $426 by 2030, a long‑term target that appeals to growth‑minded investors in the AI era. ^[31]
Technical‑analysis site WalletInvestor projects GOOG at around $549.9 by late 2030, implying roughly 71% upside over five years from current levels, if its pattern‑based model plays out. ^[32]

These far‑out numbers should be treated with caution, but they illustrate how the AI platform thesis supports scenarios where Alphabet continues compound growth through the decade.

How the Market Is Weighing Risks vs. Rewards

1. Antitrust and regulation

Alphabet now faces:

Ongoing DOJ cases covering search defaults (Chrome, Android, Apple agreements) and proposals including forced divestitures of Chrome or limitations on bundling its services. ^[33]
A parallel DOJ push to break up Google Ad Manager, which Google calls unworkable. ^[34]
Continued scrutiny in Europe, where large fines have already hit margins.

So far, the market seems to assume negotiated, incremental remedies (fewer exclusive deals, more data‑sharing, maybe ad‑tech divestitures) rather than a radical break‑up of Google’s core search or YouTube businesses. But any ruling that meaningfully limits defaults, cross‑product data use or ad‑stack integration could shave value off Alphabet’s long‑term cash flows.

2. AI arms race and capital intensity

Alphabet is battling Microsoft/OpenAI, Meta, Amazon, and others in a brutally expensive AI arms race:

Capex guidance of $91–93 billion for 2025 reflects data‑center and AI chip build‑outs. ^[35]
Nvidia still holds over 90% market share in advanced AI chips, meaning even Google’s TPU business is not immune to upstream supplier power and pricing cycles. ^[36]

If AI demand normalizes faster than expected or competition erodes pricing, Alphabet could face margin pressure despite strong top‑line growth.

3. Self‑driving and “Other Bets”

Waymo’s school‑bus recall is a reminder that:

Self‑driving remains under intense regulatory scrutiny.
Commercial timelines are uncertain, and public mistakes can slow deployment. ^[37]

For now, Alphabet can easily absorb these costs, but investors betting on Waymo as a major value driver should factor in a longer, bumpier path to profitability.

Is Alphabet (GOOG) Stock Still Attractive After the Rally?

From a pure numbers standpoint:

GOOG trades at around 23–24x trailing earnings and roughly 28–30x forward earnings, depending on the estimate set you use. ^[38]
Revenue growth is projected in the mid‑teens and EPS growth in the mid‑30s for 2025, then high‑single‑digits in 2026. ^[39]

That valuation is much richer than it was in 2022–23 but still below some AI‑heavy peers, which underpins arguments from Oppenheimer, Pivotal and others that Alphabet remains one of the more reasonably valued mega‑cap AI winners. ^[40]

At the same time:

The average 12‑month price targets now sit right around or slightly below the current price, reflecting how quickly the stock has moved. ^[41]
Upside scenarios (e.g., $400 price targets or $5 trillion valuations by the late 2020s) rely on continued execution in AI, cloud and ads and manageable regulatory outcomes.

What to Watch in 2026

Investors tracking Alphabet from here should pay close attention to:

Regulatory milestones
- Court rulings on DOJ remedies for search and advertising.
- Any structural changes to Chrome, Android bundling or ad‑tech units.
AI monetization metrics
- Growth in Google Cloud revenue and backlog.
- Contribution from Gemini‑powered features like AI Overviews in Search and AI tools in Workspace and YouTube.
Capex vs. returns
- Whether the enormous capex envelope translates into durable margins and ROIC, rather than an arms‑race drag.
SpaceX and strategic investments
- Confirmation of a SpaceX IPO timeline and its valuation, which could crystallize tens of billions in value for Alphabet’s portfolio. ^[42]
Shareholder behavior
- Institutional flows and options markets remain constructive (GOOG’s put/call ratio around 0.74 suggests more call than put interest). ^[43]

Final Thoughts

Since 21 November 2025, Alphabet’s Class C stock has powered higher on the back of stellar Q3 earnings, momentum in AI and cloud, and even an emerging SpaceX jackpot — all while shrugging off mounting antitrust pressure and a Waymo safety hiccup.

Whether GOOG is a buy, hold or trim at current levels depends on your time horizon and risk tolerance:

Short‑term traders face a stock that has already priced in much of the good news, with consensus targets hovering near today’s price.
Long‑term investors who believe Alphabet will remain a dominant AI and cloud platform — and who are comfortable with regulatory and capex risk — may see continued upside into the back half of the decade, especially if bullish 2030 scenarios play out.

Either way, Alphabet (GOOG) has firmly re‑established itself as one of the defining AI and cloud plays of the 2020s.