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# Google: Undervalued With A Rosy Outlook After Q2 (Archive)
- URL: https://www.huntingalphas.com/google-undervalued-with-a-rosy-outlook-after-q2-archive/
- Published: 2023-07-31T16:55:00.000Z
- Updated: 2026-02-27T05:31:19.000Z
- Description: Google’s resilient search, real cloud margins, and disciplined capital allocation drive compelling upside.
- Author: Vish (Hunting Alphas)
- Tags: 5-Minute Pitches, #noindex, Archive, #sa-origin, GOOGL, Communication Services

*This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.*

## Elevator Pitch

- Since my last update, Google has generated 13-14% alpha over the S&P500\. Q2 FY23's results make me even more confident of continued outperformance.
- The Google Search's resiliency thesis is playing out as it is leading the advertising recovery.
- Margin expansion in Google Cloud is also playing out as it has posted genuine margin improvement, even after removing the benefits of lower depreciation recognition. Further margin levers exist.
- I am optimistic on Ruth Porat's appointment into the Chief Investment Officer position as it can reduce the bleeding in Other Bets' profitability.
- Valuations are attractive as the company trades at a 13.6% discount to the longer-term 1-yr fwd PEs.

Read the full article [here](https://seekingalpha.com/article/4621805-google-undervalued-with-a-rosy-outlook-after-q2-rating-upgrade?ref=huntingalphas.com).

#### Disclosures and Disclaimers

**Past performance ≠ future results. Not investment advice. See* [**full Disclaimer*](https://www.huntingalphas.com/disclaimer/)**.*