The tech-heavy Invesco QQQ Trust Series 1 (QQQ) declined 4.2% in June.
Besides investor money moving into semiconductors, concerns over high capital expenditure by Alphabet and its Big Tech peers have persisted.
Stocktwits sentiment for GOOGL dipped to ‘neutral’ on Monday.
Alphabet shares rose 1% in the premarket session on Monday, although their run has been rather unremarkable this month, as investors sold off Big Tech stocks in favor of semiconductors.
GOOGL stock is down 11.2% so far in June and is heading for its worst monthly performance since February 2025. While GOOGL sits roughly in the middle of the Magnificent Seven in terms of June performance, its decline still outpaced the broader technology sector.
The tech-heavy Invesco QQQ Trust Series 1 (QQQ) declined 4.2%. With a 17% drop, Microsoft is on track to be the worst Mag7 performance in the first half of the year.
Alphabet was the top-performing Mag7 stock last year, powered by its Gemini 3 AI model, which launched in November. The benchmark model and other AI advances were tailwinds for the business; however, the stock failed to carry the momentum in 2026.
Besides investor money moving into semiconductors, concerns over high capital expenditure by Alphabet and its Big Tech peers have persisted. Alphabet raised its annual capital spending forecast by $5 billion to between $180 billion and $190 billion in April, mainly meant for AI development, cloud capacity expansion and chip development.
Earlier this month, the company announced it would raise $80 billion by issuing new shares. It also said that Berkshire Hathaway had committed to buy a $10 billion lot.
Company | Forward 12-month P/E | Analysts Upside Projection |
Alphabet | 26.9 | 28% |
Amazon | 27.9 | 35% |
Meta | 16.8 | 34% |
Nvidia | 19.4 | 56% |
Apple | 31.2 | 11% |
Tesla | 176 | 11% |
Microsoft | 20.1 | 50.40% |
Source: Koyfin
Analyst, Retail View On GOOGL
Currently, 57 out of 64 analysts rate GOOGL stock ‘Buy’ or higher, and seven rate it ‘Hold,’ per Koyfin. Their average price target of $337.37 implies an upside of 28% from the stock’s closing price on Friday.
To be sure, analysts forecast higher upside on Google’s cloud rivals Amazon and Microsoft, as well as for Nvidia and Meta Platforms. In terms of forward price to earnings, Microsoft, Meta and even Nvidia trade cheaper than Google.
On Stocktwits, the retail sentiment for GOOGL shifted to ‘neutral’ from ‘bullish’ on Monday morning. Over the last 90 days, the message volume for GOOGL declined 64%, signaling waning interest among retail traders.
