Google shares dropped by more than 5% after the closing bell on October 24 and then brought the score to -8.75% in early trading hours the next day. The market crowd did it on a very solid financial report, and that's a totally irrelevant story for me. I believe this is only a golden opportunity to buy Google-parent Alphabet on temporary dips. The "official" background for this strange price move in many news sources was a lack in revenue growth from the cloud computing segment of Google's business. As a matter of fact, the giant's cloud sales added 22% on an annual basis to $8.4 billion "only", compared to consensus expectations for $8.6 billion on Reuters polls. It's not a tragedy, is it? The difference could be noticeable only if compared to Microsoft Azure cloud, which reportedly soared by 29% for the same period. Well, Microsoft's performance on clouding is now better than the same business by Google, yet Google has a large diversity in terms of other sources of income.

All in all, Google announced its quarterly EPS of $1.55 on total revenue of $76.7 billion, with both measures beating consensus for EPS of $1.46 on revenue of $75.9 billion. Google's components of revenue from its search and other businesses rose 11% to $44 billion, and YouTube advertising revenue rose 12% to $7.9 billion, for example. All these numbers were absolutely the best ever for the company in terms of sales, and the highest in terms of profit since Google's stock split in 2022. As Google-parent Alphabet's CEO Sundar Pichai said, he was also "pleased with our financial results and our product momentum this quarter, with AI-driven innovations across Search, YouTube, Cloud, our Pixel devices and more", so that his company continues to focus on "making AI more helpful for everyone", which is an "exciting progress" and "lots more to come".

I have no reason to doubt as well. And the current price discount is exceeding 16% vs all-time highs of summer 2022 for Google. So, nothing is wrong with a trading plan of buying dips, keeping in mind the first price target of above $140 at least.