Alphabet (GOOG), mcap=$1350bn

GOOG pitch:
– The hype around ChatGPT is providing a rare opportunity to purchase GOOG, a quality compounder, at a more than fair price.
– GOOG looks to be much better positioned for the future than anyone else due to its long and impressive history with AI.
– Public launch of BARD is expected to be a positive catalyst for the stock.
– Meanwhile, the temporary slowdown in the ad space is beneficial in the long term.
– GOOG is using this opportunity to optimize its costs, something it has never done before.

GOOG valuation:
– Trades at 17x 2023 EPS with a pristine balance sheet and new cost discipline.

Exp. gain: Not specified.

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