Share price
$341.16
−1.03% · Day range $338.57–$343.90
Amazon draws preference from Rosenblatt as GOOGL stock’s forward P/E lags by 10%
Alphabet Inc. has a consensus upside comparable to that of Amazon.com, Inc., yet trades at a lower forward earnings multiple. This difference in valuation presents a challenge to Rosenblatt Securities analyst Scott Devitt’s latest AI-growth thesis for Amazon.
Alphabet · NASDAQ: GOOGL
AI growth, priced below Amazon
Market snapshot: August 20, 2026, 13:02 EDT (19:02 CEST), while Nasdaq trading was open. Prices are U.S. dollars.
Forward P/E
25.86×
About 10% below Amazon’s 28.72×
Consensus target
$428.07
+25.5% implied upside
Market value
$4.17T
Trailing revenue: $445.87B
12-month price path
Monthly closeLatest quote
Position in 52-week range
$196.60 low68% of range$408.61 high
Forward valuation
P/EGOOGL’s consensus upside is 0.7 percentage point above Amazon’s, despite the lower forward multiple.
Cloud engine · June quarter
Year over yearGoogle Cloud
$24.77BRevenue +82%Operating income $8.81B · margin 35.6%
Amazon AWS
$42.23BRevenue +37%Operating income $16.62B · margin 39.4%
Amazon has the larger base and a 3.8-point margin lead. Alphabet has the faster growth rate.
Street view
Latest available| Signal | GOOGL | AMZN |
|---|---|---|
| Consensus | Strong Buy | Strong Buy |
| Rating split | 46 strong buy · 13 buy · 5 hold | 43 strong buy · 15 buy · 2 hold |
| Target range | $340–$515 | $230–$405 |
| Fresh action | Bernstein Hold, $385 | Rosenblatt Buy, $335 |
What supports the thesis
Evidence| Google Cloud | 82% revenue growth |
| Company revenue | 24% growth to $119.80B |
| Operating income | 30% growth to $40.77B |
| Valuation | Similar target upside to AMZN at a lower multiple |
What can break it
Risk mapAI infrastructure spending could rise faster than demand. Regulation, cloud price competition and volatile investment gains can also shift the earnings path.
Reported net income included a $77.1B after-tax equity gain. Forward earnings are the cleaner comparison.
Sources: Alphabet and Amazon SEC-filed June-quarter results; StockAnalysis quote, valuation, price-history and analyst pages; Rosenblatt coverage reported by The Fly via TipRanks. Calculations use unrounded figures where available. Market data observed August 20, 2026, 13:02 EDT (19:02 CEST).
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