At a market cap of $1.75 trillion, Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is without a doubt one of the most dominant companies in the world. But in recent times, it has been dealing with macro headwinds that have impacted the digital advertising market. Moreover, investors are trying to figure out how the future of artificial intelligence (AI) will impact the business.
As of this writing, Alphabet shares remain 8% off their all-time high, even though they have risen by 57% this year (as of Oct. 10). So is now the right time to buy this FAANG stock? Here's why I think this is a smart move for investors.
Investors are excited about the potential for AI. More specifically, they're looking at ways to boost their portfolios with exposure to this new technology, which could be revolutionary.
Source Fool.com