CNBC’s Jim Cramer on Monday explained why it’s worthwhile for investors to keep Alphabet stock in their portfolios, lauding the continued success of its search business and company-owned YouTube.
Cramer had decided to sell some stock for the CNBC Investing Club’s Charitable Trust because he worried that new artificial intelligence query systems will eventually become an “existential challenge” to Google’s search business. But bullish analyst notes on the tech giant helped quell his worries.
“We shall sell no more for the charitable trust … . It’s just got too much going for it, like nearly all the other mega caps,” he said. “Remember that even if there’s a problem, these guys have so many ways to pull a rabbit out of a proverbial hat and turn things around. You don’t get that trillion dollar valuation for doing nothing.”
Cramer also praised Alphabet’s YouTube business, which could be worth $423 billion, according to a January …