Alphabet Earnings Preview Eyes $2.86 EPS, 21.8% Upside Target

Alphabet enters its Q2 earnings report with Wall Street forecasting EPS of $2.86, a 23.8% year-over-year increase. The preview follows a three-day 5% rally that tested resistance at $358 and propelled shares to #13 in S&P 500 analyst rankings after overtaking MPWR. Despite a modest 0.8% pullback on July 2, GOOG has surged 98.1% over the past year, far outpacing the S&P 500, while analysts maintain a Strong Buy consensus with an average price target of $433.90. Positive Earnings ESP of +1.31% and a history of large beats support expectations for continued momentum.