Updated 30 October 2026. Alphabet (GOOGL) Class A shares traded at $280.74 in premarket trading at 9:09 am ET on Friday, down 1.09 percent from Thursday’s $283.82 close, which itself was 12.64 percent below Wednesday’s $324.89 (StockAnalysis). CNBC called Thursday’s fall the stock’s worst day on record, ahead of the 11.63 percent drop of March 2020. Verdict: day two is about whether the selling stops; the brokers are cutting targets but mostly keeping Buy ratings, while negative free cash flow and slower search growth keep the pressure on. Reference levels: $255 below, $310 above.
Key facts
- Price: GOOGL closed at $283.82 on 29 October, down $41.07 or 12.64 percent, in a $280.36-$288.33 range, and traded at $280.74 premarket on Friday at 9:09 am ET (StockAnalysis). CNBC put the market value lost on Thursday at about $500 billion.
- 52-week range: $267.67 to $408.61 (StockAnalysis); the premarket quote is about 4.9 percent above the low.
- The quarter: revenue of $127.58 billion, up 25 percent; Google Cloud $30.71 billion, up 103 percent; Search and other $63.35 billion, up 12 percent after 17 percent in the second quarter; diluted EPS $2.12, cut by an $8.66 billion loss on equity securities (Alphabet release via StockTitan).
- Cash: capex of $51.36 billion against $23.95 billion a year earlier, operating cash flow of $42.29 billion and free cash flow of minus $9.07 billion, against roughly minus $2.7 billion expected.
- Guidance: 2026 capex stays at $195-$205 billion. Finance chief Anat Ashkenazi said capex will “increase significantly in 2027”, with details due on the fourth-quarter call.
- Target cuts: Cantor Fitzgerald to $350 from $420 (Overweight), BofA to $380 from $430 (Buy), Goldman Sachs to $385 from $435 (Buy), RBC to $400 from $425, and DA Davidson to $300 (Neutral).
Why day two matters
After a single-session drop of this size, the next session usually tells you whether the move was a repricing or a capitulation. Friday’s premarket quote says the selling has slowed but not reversed: the stock is about 1 percent lower again, and it is trading inside a wider AI-capex sell-off. In the same premarket session Amazon was down about 7 percent after its own spending-heavy quarter and Intel about 25 percent after a weak guide (TradingKey), while Korea’s KOSPI fell more than 5 percent on Friday as SK hynix and Samsung Electronics dropped.
Amazon’s numbers matter for Alphabet’s case. It reaffirmed roughly $220 billion of 2026 capex, and its trailing free cash flow is now minus $42.4 billion, so Alphabet is no longer the only hyperscaler being judged on cash rather than growth. That cuts both ways: it makes Alphabet’s negative free cash flow look less like a company-specific problem, but it also confirms that the whole group is spending ahead of revenue.
What the brokers are saying
The cuts are large but the ratings are mostly intact. Goldman Sachs kept Alphabet as a top AI pick, arguing that Cloud is growing faster than its two biggest rivals and that the EPS miss was mostly an accounting mark (24/7 Wall St.). BofA’s argument is sharper: Fortune reported that the bank now values Google Search at a lower multiple than fossil-fuel stocks, on the view that search growth is slowing as AI answers spread. DA Davidson stayed Neutral with a $300 target on capex concerns.
StockAnalysis now shows an average target of $408.09 from 58 analysts, down from $429.68 before the results, with a Strong Buy consensus. That average is still about 45 percent above the premarket quote, which shows how far the Street’s models are from the market’s current price for the capex cycle.
Our results-night Alphabet page covered the quarter in detail, and Thursday’s coverage of the 13 percent drop followed the session itself. For the Amazon side of the story, see our Amazon page for Friday.
GOOGL on day two: bull, base and bear
| Scenario | GOOGL | What has to happen | Anchor |
|---|---|---|---|
| Bear | $255 | The sell-off extends through the 52-week low as more brokers cut targets, Amazon’s drop deepens the AI-capex de-rating and search worries dominate. | About 9.2 percent below the $280.74 premarket quote and below the $267.67 52-week low. |
| Base | $270-$295 | The stock stabilises above the 52-week low while the market waits for 2027 capex detail. | Just above the 52-week low up to about $11 above Thursday’s close. |
| Bull | $310 | Buyers treat Thursday as capitulation, lean on the 103 percent Cloud growth and the Buy ratings, and retrace part of the drop. | About 10.4 percent above the premarket quote, recovering roughly two-thirds of Thursday’s $41.07 loss; still below Wednesday’s $324.89 close. |
The bear case sits below the latest quote. These are reference levels measured from the verified premarket price, not forecasts.
What to watch
- The open: whether Friday’s 1 percent premarket dip turns into a second leg down or a rebound.
- $267.67: the 52-week low; a break would put the bear case in play.
- More target changes: whether the $408.09 average keeps falling and whether any firm downgrades rather than trims.
- The hyperscaler tape: Amazon’s reaction to its own capex guidance on Friday sets the tone for the group.
- The fourth-quarter call: Alphabet has promised details on 2027 capex there.
Quick take: Alphabet traded at $280.74 premarket on Friday after a 12.64 percent fall on Thursday, as brokers cut targets on minus $9.07 billion of free cash flow and 12 percent search growth while mostly keeping Buy ratings. Expect $270-$295 while the market waits for 2027 capex detail; $255 needs a break of the 52-week low, and $310 needs buyers to treat Thursday as capitulation.
FAQ
What is Alphabet’s stock price today?
GOOGL traded at $280.74 in premarket trading at 9:09 am ET on Friday 30 October 2026, down 1.09 percent from Thursday’s $283.82 close (StockAnalysis). Check a live quote for the regular session.
Why did Google stock fall so much?
Third-quarter free cash flow came in at minus $9.07 billion as capex more than doubled to $51.36 billion, search growth slowed to 12 percent, EPS fell to $2.12 on an equity-securities loss, and management said capex will rise significantly in 2027.
Was it Alphabet’s worst day ever?
CNBC reported that the roughly 13 percent fall on 29 October was the stock’s worst day on record, ahead of the 11.63 percent drop in March 2020. StockAnalysis shows a 12.64 percent decline to $283.82.
Which analysts cut their Alphabet price targets?
Cantor Fitzgerald cut to $350 from $420, BofA to $380 from $430, Goldman Sachs to $385 from $435 and RBC to $400 from $425; DA Davidson set $300 with a Neutral rating. Most kept Buy or equivalent ratings.
What is the Alphabet analyst price target now?
The average is $408.09 from 58 analysts, down from $429.68 before the results, according to StockAnalysis.
How much will Alphabet spend on capex?
Alphabet kept 2026 capex guidance at $195-$205 billion and said spending will increase significantly in 2027, with details due on its fourth-quarter call.
Sources: Alphabet third quarter 2026 results (28 October 2026) via StockTitan; StockAnalysis (29 October close and range, 30 October premarket quote, 52-week range, analyst consensus and average target); CNBC (record decline, market value lost); Investing.com (Cantor Fitzgerald); Fortune (BofA); 24/7 Wall St. (Goldman Sachs); analyst roundups for RBC and DA Davidson; TradingKey (US premarket movers, Amazon results, 30 October); Korea Times (KOSPI, 30 October).
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Stock prices are volatile. Do your own research and consult a licensed financial adviser before making investment decisions.
