Why Alphabet Stock Keeps Going Up
As trading winds down for the week, Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) stock is going out with a bang, capping a four-day run of constantly rising stock prices with another 1% gain (as of 11:25 a.m. ET).
And Alphabet can thank Samsung (OTC: SSNL.F) for that.
One month ago -- almost to the day -- Alphabet stock lost $50 billion in a single day when The New York Times reported that key smartphone partner Samsung was considering removing Alphabet's Google as the default search engine on its phones. Enamored of ChatGPT and the potential of artificial intelligence to improve the functionality of search, Samsung was reportedly considering replacing Google with the new ChatGPT-powered Bing from Microsoft (NASDAQ: MSFT). If that happened, Google could conceivably have seen its share of the global search market shrink, unless Samsung users affirmatively chose to download Google as their preferred search app -- a prospect that send Alphabet execs into a "panic," as the NYT reported.
Source Fool.com
Alphabet Inc. A Stock
The stock is an absolute favorite of our community with 97 Buy predictions and no Sell predictions.
As a result the target price of 178 € shows a slightly positive potential of 19.61% compared to the current price of 148.82 € for Alphabet Inc. A.
