Missed the Google Boom? Here's Why Experts Say It's Still Not Too Late to Cash In

Google's parent company Alphabet might have already rallied this year, but Wall Street thinks you haven't missed the boat. With shares trading at just 22 times earnings while rivals command far richer valuations, analysts are betting on a catch-up trade that could deliver 50% returns.

The catalyst? A landmark court victory that protected Chrome from forced divestiture has cleared the biggest cloud hanging over the tech giant's future, which trades under the ticker GOOGL, and has weathered a regulatory storm and emerged with renewed investor confidence.

Chrome Victory Sparks Fresh Rally

Google just dodged a bullet that could have cost trillions. A federal judge's September ruling that the company won't have to sell off Chrome sent shares soaring 7% in after-hours trading and breathed new life into the investment case.

The browser sits at the heart of Google's advertising machine. While the court did block some exclusive search deals (like the lucrative Apple partnership), it preserved Google's ability to negotiate default placements. This critical distinction maintains much of Chrome's strategic value.

'Chrome is absolutely central to Google's business model,' Forbes analysts noted. 'Its value to Google? We've estimated it in the trillions.'

The Valuation Gap That Won't Close

Alphabet's stock has long traded at a discount compared to its Big Tech peers. As of September 2025, Google's price-to-earnings (P/E) ratio stood at 22, while Amazon and Microsoft hovered around 35 and 37, respectively. Meta Platforms, another tech heavyweight, was priced at 28 times earnings.

This valuation gap has puzzled analysts, especially given Google's strong fundamentals. The company continues to post solid revenue growth, expanding margins, and dominance in both search and cloud computing. Experts argue that the regulatory overhang was the primary factor suppressing its valuation multiple.

'If Google's valuation multiple were to rise to 35 times—similar to Amazon and Microsoft—it would translate into stock levels over $320, implying roughly 50% upside from current levels,' Forbes analysts projected.

Cloud Growth and AI Investments Fuel Optimism

Beyond search and advertising, Google's cloud division has become a formidable growth engine. In Q2 2025, Google Cloud posted a 31.7% year-on-year revenue increase, reaching $13.62 billion.

Its BigQuery platform, a serverless data warehouse, is deeply integrated into the broader Google Cloud ecosystem, enabling seamless access to infrastructure, analytics, and AI services.

Alphabet's strategic partnerships, such as its collaboration with NVIDIA to offer next-gen GPUs, have further bolstered its cloud credentials.

With 42 cloud regions and 202 network edge locations worldwide, Google Cloud now ranks third globally in market share.

Long-Term Outlook Remains Bullish

Looking ahead to 2030, analysts remain optimistic about Google's trajectory. The company's diversified revenue streams, encompassing digital advertising, cloud services, consumer hardware, and AI, provide resilience in volatile markets.

According to a detailed forecast by FinanceWorld, Google's multifaceted business model positions it as a 'dominant force in the future of tech.'

Moreover, Alphabet's consistent earnings performance and strategic acquisitions have reinforced investor confidence. From YouTube to Nest Labs, Google's portfolio continues to expand, driving innovation and shareholder value.

Regulatory Risks Remain But Feel Manageable

Not everything's rosy. A separate US court found Google guilty of monopolising online search and advertising markets, with sentencing expected later this month.

Yet most analysts think the worst-case scenarios are already baked into the current share price.

'Regulatory risk is just a small part of the risk assessment framework,' according to the Trefis HQ Portfolio team, which has beaten the S&P 500 for four straight years.

The recent Chrome ruling suggests courts recognise the complexity of breaking up integrated tech platforms without destroying value—a nuance that should benefit Google going forward.

The Bottom Line for Investors

For those kicking themselves for missing Google's earlier gains, the opportunity hasn't passed. Strong fundamentals, accelerating cloud growth, and a valuation discount that should eventually close make Alphabet compelling at current levels.

The regulatory fog that suppressed the stock for months is lifting. What's emerging is a company with multiple growth engines, dominant market positions, and a stock price that hasn't caught up to reality. As one analyst summed it up: 'The company is firing on all cylinders.'