Alphabet: Buy or Wait Before Q1 Earnings?

Alphabet shares traded around $317 as of April 10, 2026, with Wall Street overwhelmingly rating the stock a Buy and setting price targets between $354 and $443. Google Cloud, AI-driven Search growth, and rapid Gemini adoption underpin the bullish case, with Q1 earnings due April 29 expected to show revenue near $106 billion. The key risk is Alphabet's $175-185 billion capital expenditure plan for 2026, which could compress margins and slow EPS growth. Most analysts recommend buying on dips, citing long-term AI leadership, while cautious investors may wait for post-earnings clarity on spending returns and cloud margin trends.