Alphabet may look cheap right now but it could go lower. While shares up more than 30 percent in the last 52 weeks, at close to $690 a share, Google’s parent company has actually been an underperformer year-to-date, down nearly 10 percent. Friday Citigroup analysts cautioned that their channel checks show a slowdown in the growth rate on spending on search marketing -what businesses use to build their online presence and web traffic. Action Alerts PLUS’s Jim Cramer thinks Alphabet is a very inexpensive stock but perception matters. If investors think Google’s business is starting to slow Alphabet shares are heading lower ahead of its Q2 earnings report in mid-July.
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