Alphabet Tops Amazon as Preferred Dip Buy at $372 on Cloud Momentum

On June 5, Alphabet (GOOG.OQ) is positioned as the stronger retirement-oriented dip buy versus Amazon after a market pullback. The June 4 comparison had already highlighted Alphabet’s cheaper valuation and 63% Google Cloud growth over Microsoft, driving a 20% YTD gain. The latest analysis now favors Alphabet over Amazon due to superior free cash flow of $73.3B, a new quarterly dividend, forward P/E of 26, and $460B cloud backlog, with price targets implying 20% upside from $372.