Alphabet reports ‘solid’ Q1, but jury still out on recession, says Roth Capital

Roth Capital keeps a Buy rating and $180 price target on Alphabet (GOOGL) after its “big beat” on earnings, as Search growth stayed above 10% even though YouTube was below expectations. The company reiterated its $75B CapEx guide for 2025 however and cautioned that accelerating depreciation spend might weigh on future margin expansion, Roth states, adding that it also doesn’t have more visibility toward April trends as the management did not provide any helpful commentary on Q2.