5 Best Stocks To Buy Before Recessions

3. Alphabet Inc Class A (NASDAQ:GOOGL)

Number of Hedge Fund Investors: 221

Search. YouTube. Health Sciences. Cloud. AI. Machine Learning. The list of growth catalysts for Alphabet Inc Class A (NASDAQ:GOOGL) keeps increasing. Many believe it is one of the undervalued stocks to buy for the long term as the market is still not appreciating Alphabet Inc Class A’s (NASDAQ:GOOGL) business expansion while the stock’s valuation also remains depressed amid fears that AI tools like Perplexity and ChatGPT might dent Alphabet Inc Class A’s (NASDAQ:GOOGL) search business. But experts say such fears are overblown.

The FPA Crescent Fund stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its fourth quarter 2023 investor letter:

Alphabet Inc. (NASDAQ:GOOG) continued going from strength to strength during 2023 despite concerns that competition may infringe on the company’s dominant position in Search. Thus far, Alphabet has continued to hold its own, and we look forward to seeing how the company incorporates further AI developments across the Alphabet ecosystem. Lastly, we are hopeful that the impending arrival of a new CFO will bring a renewed focus on efficiency – an area where we believe Alphabet has ample room for improvement.”