He thinks Google should spin off each of its businesses into separately traded entities. " Everybody knows that the best thing for Google is to break it up, except for Google," he said. According to Luria's analysis, which used company earnings reports from Alphabet and rivals, Google's individual businesses would be valued much more highly as separate entities. Whereas Google's market capitalization is below $2 trillion, Luria said in a note to investors Monday that the lump sum of Google's businesses, when valued separately, would be $3.7 trillion. Luria said Google should break up YouTube, Search, Google Cloud, Waymo, and its AI segments. That's because Alphabet stock is trading at a historically low multiple of 16 times its forward earnings (over the next 12 months) — " well below market multiple," he said.