Alphabet / GOOGL
Aktiv 20% position i stock sleeve. Re-scores kvartalsvis efter earnings.
Case
Search, YouTube, Cloud, TPU/AI optionality og stærk cash generation. Rollen er AI/platform exposure med lavere direkte hardware-cycle risiko end ren AI infrastructure.
20% targetRisici
Antitrust remedies, AI search behavior shift, capex drag, Cloud-marginer og ads cyclicality.
Latest research
Q1 2026 still supports the active sleeve, but July research keeps the score under review because the latest primary-source update remains Alphabet's June financing/capex package: the USD 84.75bn upsized raise, USD 180-190bn 2026 capex guidance, and expectation that 2027 capex will increase significantly. Demand, Cloud backlog and AI product momentum remain strong; dilution, debt, depreciation, energy cost, buyback policy and capex returns are now higher-priority watch items.
Working score 104 / 125DCA rule
Ny kapital kræver score 100+. 2x DCA kun ved 20%+ under 52-week high og score 100+. 0.5x hvis aktien er op 20%+ de sidste 30 dage. 2026-07-01 snapshot: ca. 12.5% under 52-week high og ca. -6.0% over 1 måned, så ingen 2x og ingen 0.5x.