When it comes to advertising-oriented internet companies,
Alphabet
considered as the best house in a shabby neighborhood.
Ad spending has always fallen as the economy weakens, and digital now accounts for two-thirds of all ad spending. But the conventional view on the Street is that search ads should hold up better during a recession than display and direct response ads — which helps explain why. Why is Alphabet’s stock (code: GOOGL) down 30% this year, while
Meta
(META) is down more than 60%.
