**Alphabet’s Stock Update**
Alphabet (NASDAQ: GOOG, GOOGL) shares fell 2.1% by 11:25 a.m. ET on Monday amid heightened market concerns over potential conflict in the Mideast, particularly regarding Iran. Despite this decline, reports indicate that Apple (NASDAQ: AAPL) has entered into a lease agreement with Alphabet for data center capacity to bolster its Siri AI service.
**Key Financial Context**
The specifics of the financial arrangement between Apple and Alphabet have not been disclosed. Alphabet’s market valuation currently stands at $3.8 trillion, with shares trading at 28.5 times trailing earnings and more than 51 times trailing free cash flow. Analysts project a 14% annualized earnings growth over the next five years, raising questions about the stock’s current valuation and indicating that it might be overpriced.
