Alphabet Shares Fall 4.35% From Oct. 21 Through Oct. 23, Closing at $320.21

Alphabet’s Nasdaq-listed Class A shares fell 4.35% over two sessions through Friday, closing at $320.21 ahead of its Oct. 28 third-quarter report, which will update investors on Search and Google Cloud performance.

GOOGL closed at $334.76 on Oct. 21, $324.22 on Oct. 22 and $320.21 on Oct. 23. The closing prices mark a $14.55 decline across the two sessions.

On Oct. 22, Citizens JMP analyst Andrew Boone lowered his price target for Alphabet shares to $450 from $515, a reduction of about 12.6%. He maintained a Market Outperform rating and cited rising competition from AI agents in Search and execution risk. Boone’s target change came during the share decline, but the price data do not establish that it caused the move.

For the quarter ended June 30, 2026, Google Search & other revenue rose 17% year over year to $63.271 billion. Google Cloud revenue increased 82% to $24.768 billion. Cloud’s reported revenue growth rate exceeded Search’s for the quarter.

Alphabet reported $44.924 billion in purchases of property and equipment for the quarter, compared with $22.446 billion a year earlier. Google and Alphabet CEO Sundar Pichai said, “Our popular AI features are driving Search query growth.”

Alphabet plans to release third-quarter results on Oct. 28, ahead of a conference call scheduled for 4:30 p.m. ET.