Google Stock Forecast: Faces a $350 Test as Buyback Pause Raises Dilution Risk

Alphabet’s buyback pause is drawing investor scrutiny because it could allow RSU-driven share issuance to outpace repurchases, pressuring EPS despite strong revenue growth. The company made no Class A/C repurchases in Q1 2026, leaving $69.5bn unused under its authorization, while large stock-based compensation (reported $27.1bn in 2025) and 90m RSUs granted in Q1 (44m vested) raise dilution concerns. At the same time, GOOG has pulled back from recent highs and is trading near the mid-$350s, with a key $350–$360 gap/support zone acting as the next technical test after a ~2.9% drop to about $365. Near-term market impact hinges on whether buybacks resume to offset dilution and whether buyers defend the $350 area; failure on either front could weigh on the stock, while a hold/restart of buybacks would be supportive.