Alphabet Inc. (GOOG) has recently positioned itself as a top pick for billionaire investors Steve Cohen and David Tepper due to its sprawling Artificial Intelligence (AI) portfolio. It has also engaged Hollywood studios in major AI video licensing deals and purchased a $350M stake in Walmart's Indian unit, Flipkart. The news of Alphabet selling old growth stocks to invest heavily in AI has caused a stir in the market.
Alphabet has secured seven consecutive sessions of gains and showed promising Q1 results for 2024. However, it also faced an insider sale by CEO Sundar Pichai who sold 22,500 shares. There's substantial optimism for Alphabet's ad revenue to increase, driven by AI innovation.
Alphabet has some strategic advantages over competitors contributing to its long-term buy appeal.
GOOG is expected to rise, driven by AI growth and Alphabet's recent introduction of dividends. Nevertheless, a significant drop was seen in Alphabet's market cap, allegedly due to OpenAI concerns. As Alphabet continues to gain some much-deserved AI respect, investors are eagerly waiting for next moves. Even amidst AI hiccups and CEO's stock sale, Alphabet reasserts it's still a great investment.
Alphabet GOOG News Analytics from Wed, 28 Feb 2024 08:00:00 GMT to Sun, 26 May 2024 20:08:51 GMT -
Rating 6
- Innovation 8
- Information 7
- Rumor 2
