How Google I/O Changed Investors' Perception of Alphabet's Artificial Intelligence
Until the Google I/O event held on May 10, investor sentiment toward (NASDAQ: GOOG) (NASDAQ: GOOGL) about its prospects in artificial intelligence (AI) was generally negative, with many thinking the company was falling behind. This sentiment came quickly after OpenAI released ChatGPT to the public on Nov. 30, 2022, and the news media began publishing articles on how ChatGPT would eventually destroy Google Search. Since then, investors had remained lukewarm toward Alphabet.
But after Alphabet's AI-themed Google I/O developer conference, investor sentiment toward the company turned positive, and Alphabet once again became the cool kid on the block. So what did CEO Sundar Pichai and the rest of the company's management say about AI during the conference that reignited investor interest? Is it sufficient enough to warrant buying the stock?
Let's take a closer look.
Source Fool.com
Alphabet Inc. A Stock
The stock is an absolute favorite of our community with 83 Buy predictions and no Sell predictions.
As a result the target price of 177 € shows a slightly positive potential of 8.35% compared to the current price of 163.36 € for Alphabet Inc. A.
