Google to invest $1B to improve US-Japan digital connectivity via 2 subsea cables
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 11 2024
0mins
Should l Buy GOOGL?
Source: SeekingAlpha
- Google's Investment in Subsea Cables: Google plans to invest $1 billion in two new subsea cables, Proa and Taihei, to enhance digital connectivity between the U.S. and Japan.
- Collaboration with Partners: Google will work with partners like KDDI, Arteria Networks, Citadel Pacific, and CNMI to establish these fiber-optic routes.
- Expansion of Pacific Connect Initiative: The cables are part of expanding the Pacific Connect initiative and aim to support Google's Japan Digitization Initiative.
- Improved Connectivity: The project will enhance digital connectivity reliability between the U.S., Japan, and various Pacific Island countries and territories.
- Joint Efforts by U.S. and Japan: The U.S. and Japan plan to collaborate with partners to build resilient networks in the Pacific region, including contributing funds for subsea cables.
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Analyst Views on GOOGL
Wall Street analysts forecast GOOGL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GOOGL is 338.25 USD with a low forecast of 279.00 USD and a high forecast of 390.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
34 Analyst Rating
27 Buy
7 Hold
0 Sell
Strong Buy
Current: 322.860
Low
279.00
Averages
338.25
High
390.00
Current: 322.860
Low
279.00
Averages
338.25
High
390.00
About GOOGL
Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, collaboration tools, and other services for enterprise customers. Its Other Bets segment is engaged in the sale of healthcare-related services and Internet services. Its Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini for Google Cloud; cybersecurity, and data and analytics. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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