Alphabet Inc.

A recession would hurt advertising, but Alphabet is resilient. Competitive advantages protect the...

A recession would hurt advertising, but Alphabet is resilient. Competitive advantages protect the core business's downside, while secretive moonshot investments give upside. With plenty of capacity to borrow and a mountain of cash, I rate the stock an Add, as it is undervalued by 21% and offers a 12% IRR.

Summary

• Company name: Alphabet Inc.

• Ticker: GOOGL

• 52…