Alphabet Rallies to $358.71 on Cloud Strength After 12% Dip

Alphabet shares rallied July 9 to close at $358.71 after strong Google Cloud results converted backlog into revenue as capacity constraints eased. The stock had fallen over 12% from May highs following $180-190 billion 2026 capex guidance and an $80-90 billion equity raise. Q1 results showed 22% revenue growth to $109.9 billion, 63% Cloud revenue surge to $20 billion, and backlog nearly doubling to $462 billion. Alphabet joined the Dow on June 29 replacing Verizon while Berkshire increased its stake to $41 billion. Analysts highlight Alphabet’s 36% operating margins versus Microsoft driven by owned TPU silicon.