Yahoo Finance's analysis indicates that Alphabet's (Google) stock is undervalued despite concerns over AI capital expenditure. The report highlights that Google Cloud revenue grew 82% year-over-year in the June quarter to $24.77 billion, with a Cloud backlog of over $460 billion. Analysts note that Alphabet's P/E ratio of 15 is low given its 24.23% revenue compounding rate, and 47 out of 53 analysts have revised their 2026 EPS consensus upwards in the past 30 days, with zero downward revisions.