Up 40% This Year, Is It Time to Sell Your Alphabet Stock?
Looking at the headlines out there you would think artificial intelligence (AI) is all anyone seems to care about on Wall Street these days. Nvidia, which designs semiconductor chips and processors integral to the AI sector, briefly hit a market cap of $1 trillion mostly because of AI-related news about the company and its stock is trading up about 165% this year. It seems like every technology company these days is pivoting to new artificial intelligence (AI) products for their customers to take advantage of the heightened interest.
One of the leaders in AI is (NASDAQ: GOOG) (NASDAQ: GOOGL), which this year released dozens of additional AI-powered tools across its Google Search, cloud, and workplace software services. Investors -- at least those with AI fever -- took notice and have sent Alphabet's share prices up close to 40% this year, beating several market indexes by a significant margin so far in 2023.
Should Alphabet investors consider cashing in on this AI-influenced bull run by selling some shares? Or will they be better off holding on to the stock because it has further potential to deliver outperformance? What about those considering buying the stock now?
Source Fool.com
Alphabet Inc. A Stock
The stock is an absolute favorite of our community with 96 Buy predictions and no Sell predictions.
As a result the target price of 179 € shows a positive potential of 21.08% compared to the current price of 147.84 € for Alphabet Inc. A.
