TradingKey – Alphabet’s stock (NASDAQ: GOOGL, GOOG) fell 0.52% to $342 on Wednesday, continuing a downward trend from the previous day. The stock has a decent way to go for the year, and sits approximately 21 points above its 200-day EMA at $323.34. Yet, with the recent decline, investors are wondering if this is just a profit-taking move following a robust multi-week run or if it’s an early indication of the AI-bet behind Alphabet’s recent re-rating.

Capex Guidance Keeps Climbing

The most significant problem for investors at the moment is spending. Alphabet revised up its full-year 2026 capital expenditure outlook to $195 billion-$205 billion, from the previous range of $180 billion-$190 billion. The company has been investing heavily in…