Jim Cramer said Google-parent Alphabet (GOOGL) - Get Free Report is one of the cheapest of the FAANG stocks and he said he sees numerous tailwinds for the stock ahead. In this exclusive preview from his August Action Alerts PLUS investing call, Cramer explained his bull case for the stock.
All right, now, how about Alphabet, the strongest of the FAANGs? Well, the stock hit another all time high just yesterday on the price. And yet, here's my issue with that, why we're at an all-time high again today.
It's the multiple. That's right. The price to earnings ratio, which we care so much as Action Alerts, as the runners of the trust, it remains one of the cheapest of the FAANGs at 28 times next year's earnings. I can't see how you can sell it here.
There could be a better entry point, for certain, on a wicked down day if rates spike, as I said. There will be a better time. But I like the parent of Google more than I ever, now that I like-- you know, YouTube's being monetized. Waymo's close to being monetized. Cloud is on fire.