This article is an excerpt from “Here Are Barron’s 10 Top Stocks for the New Year,” published on Dec. 16, 2022. To see the full list, click here.
‘s (ticker: GOOG) stock dropped 34% in 2022 as revenue growth slowed and investors worried about weaker search-advertising trends. At a recent $95, the shares now trade for 18 times projected 2023 earnings—a market multiple for a market leader.
‘s core price/earnings ratio is even lower, given losses at its Other Bets businesses, including Waymo, a leader in autonomous vehicles.