Alphabet stock sets record close at $212.9 after five-month winning streak

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Sholanke Dele

01.09.2025

Alphabet stock sets record close at $212.9 after five-month winning streak — Alphabet rally continues into September

Alphabet Inc. stock has carried a powerful streak of gains into September, after nodding five consecutive months of positive returns.

The rally has been fuelled by strong enthusiasm for artificial intelligence investments, robust second quarter results, and expectations that U.S. rate cuts are on the horizon. This pattern of back to back monthly gains was last seen in 2021 during the post pandemic recovery period, making the current advance one of the most notable runs for the stock in recent years.

- Alphabet stock bullish streak extends five months as AI optimism fuels buying momentum.

- Alphabet RSI nears 75, raising concerns of pullback despite supportive fundamentals.

- Alphabet upside targets stretch to $220 and $250 as momentum persists strongly.

The rally followed a difficult start to the year when tariff tensions in February weighed on U.S. equities, including Alphabet stock. Markets began stabilizing in April, and since then GOOGL has moved higher in consistent fashion. August stood out as a particularly strong month, as the stock notched four straight weeks of gains, adding more than 11%. On the final trading day of the month, Friday, the share price set a new all-time high at $214.75 before closing slightly lower at a record $212.9. Importantly, volume was strong on that day, exceeding the prior four sessions and showing strong participation in the advance.

GOOGL stock price dynamic (May - August 2025). Source: Tradingview

Today, September 1, U.S. markets are closed for the Labour Day holiday, which has temporarily paused activity. However, last week’s rally pushed the stock’s daily RSI to near 75, firmly in overbought territory. This is the highest level of relative strength since July. Typically, overbought conditions raise concerns about a pullback, yet in the current environment, it may also signal strength, given the backdrop of supportive monetary policy expectations and strong earnings momentum.

Alphabet momentum driven by AI optimism, but valuation debate tempers sentiment

On the fundamental side, optimism around artificial intelligence remains a core driver of Alphabet’s valuation. Investors are pricing in long-term growth potential tied to AI initiatives, though the debate over whether this constitutes a bubble has introduced some hesitation. Comments from Sam Altman, CEO of ChatGPT, highlighting the risk of inflated AI valuations, have not gone unnoticed and could temper investor enthusiasm in the near term.

Looking ahead, technicals point to potential upside targets near $220 and $250 per share. Near-term support is seen at $210.6, a level that may provide a cushion in the event of profit-taking. The balance between AI optimism, strong earnings delivery, and the broader monetary policy outlook will shape whether Alphabet continues to set fresh records through September. As markets reopen after the holiday, attention will be on whether the recent buying momentum can carry the stock higher or if investors begin to reassess positioning following such an extended streak of gains.

GOOGL stock rally drew stronger participation as trading volume hit its highest in three days. The stock surged to $212 intraday before closing at a record $211.6.

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