Alphabet: Cheapest Hyperscaler By A Margin

Alphabet Inc./Google has sharply underperformed peers despite delivering its strongest operating quarter, with 25% revenue growth and expanding margins. Recent selloffs stem from EPS and free cash flow misses, negative FCF, and surging capex, not from demand or core business weakness. GOOG Cloud revenue grew 103% to $30.7B with margin expansion, and TPU sales are emerging as a new growth driver for 2027.