Why Now is a Great Time to Buy Google Stock
Check out why now is a great time to buy Google stock even though there's a stock market downturn.
The stock market goes up and down. That’s just the nature of it. And recently, there has been a huge tech stock plunge with most tech stocks down 20-40% from their highs earlier this year.
The main tech stocks are known as the FAANG stocks (Facebook, Amazon, Apple, Netflix, and Google). These stocks tend to follow a general trend and made massive growth during 2018. Both Apple and Amazon reached over $1 trillion market caps this past year.
The recent downturn of these stocks are due to a variety of reasons which the guys on Wall Street are much more acquainted with than myself. While these stocks are down, it’s a fantastic opportunity to buy into strong companies that have a large growth outlook over the long-term.
Out of the FAANG stocks, I believe Google has the strongest long-term growth outlook - and that’s why I’m currently buying Google Stock.
I Believe In Google
I strongly believe in Google as a company and love their products. First, the Chrome Web Browser has changed my life since the first time I used it.
My wife and I both use Google’s smartphone called the Pixel. I used to have an iPhone but once I switched to the Pixel I told myself I would never go back. And I mean it.
Not only are Pixels innovative and seamlessly embedded with Google Services, they don’t constantly try to make you pay for extra cloud storage like Apple.
I use Gmail and Google Photos all the time and it’s so nice having everything integrated on a single interface. In addition to that, the Google Assistant is much better than Siri in my opinion - and a lot funnier too.
Google Earnings are Strong
Google’s earnings have been notoriously strong and have surpassed consensus estimates for the most recent earnings statement.
The most recent Earning Per Share Statement was predicted to come out to $10.42 when in fact it came out to over $13 per share. That’s quite the surprising difference.
Future Growth Outlook is Strong
Google has grown immensely these past 15 years and will continue to do so because of its plans to grow it’s phone sector as well as the self-driving car sector.
Pixel phones are catching on and will continue to increase in sales in my opinion.
Google also owns Waymo, its self-driving car department. Self-driving cars will become a normal occurrence in 20-30 years and Google is a major player in this market.
In addition to all of these positives, Google stock is only on a downturn because the stock market and tech stocks especially are down. The company is fundamentally strong.
But, Google is the stock most ready for a comeback which is why I’m buying it. If I couldn’t sell any Google stock for the next 5-10 years I would be just fine with that. That’s how much I believe in Google and why it will continue to be a fantastic tech company to invest in over the coming years.