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Our monthly Fire Best Buys Now are designed to highlight our team’s three favourite, most timely Buys from our growing list of growth-focused Fire recommendations, to help Fools build out their portfolios.
“Best Buys Now” Pick #1:
Alphabet (NASDAQ:GOOG)
- Dominant search company with greater than 90% global market share.
- It boasts impressive intangible assets, such as the tech expertise behind its search products, which provides a competitive advantage.
- The company reported strong results for its first quarter, which saw revenues increase at an accelerated rate of 15%, with strong growth in search advertising.
- Pleasingly the company appears to be speeding up its AI strategy – capital investments are expected to increase by roughly 56% to $50bn for the year, while it also cuts costs to offset the impact on profits.
- We shouldn’t forget the dominant position Alphabet holds in online advertising, the huge cash flow it pumps out quarter after quarter, and the opportunity to improve its products (including in the fast-growing cloud computing market) through its technological expertise (including in AI).
