Alphabet's shares closed near $280 on November 1 after a sharp post-earnings decline, with Q3 2026 revenue rising 25% to $127.6 billion yet missing consensus amid a modest EPS shortfall and negative free cash flow driven by elevated capex. Google Cloud revenue more than doubled to $30.7 billion, underscoring AI infrastructure demand, while search growth remained solid. The company held 2026 capex guidance but signaled a significant 2027 increase, prompting analysts to maintain mostly buy ratings with consensus 12-month targets near $410 despite recent downward revisions. Ongoing ad-tech behavioral remedies from antitrust rulings add limited near-term uncertainty, with trader focus now on fourth-quarter momentum and AI spending trajectory.