Why Alphabet Stock Popped Again Today
(NASDAQ: GOOG) (NASDAQ: GOOGL) stock, which started this week on a high note -- rising 4.6% Monday on news Apple (NASDAQ: AAPL) may license Google's Gemini for use on the iPhone -- is looking as if it may end the week on a similarly high note, up 2.1% through 11:55 a.m. ET.
On Friday, investment banker Wedbush announced it's raising its price target on Alphabet stock to $175 a share, up from $160. The banker also said it's putting Alphabet stock on its "best ideas list" of stocks most likely to reward investors over the next 12 months, as StreetInsider.com reports today.
Considering how the week began, you'll be unsurprised to learn that artificial intelligence is key to Wedbush's buy thesis. "Alphabet ... has an unmatched breadth of data to develop and train AI models across text, images, and video, [and] a massive user base spanning Google Search, YouTube, Android, and other Google applications," argues Wedbush. And given these advantages going into AI battle, Wedbush simply believes that investor worries about Google coming late to the game are "overstated."
Source Fool.com
Alphabet Inc. A Stock
The stock is an absolute favorite of our community with 92 Buy predictions and no Sell predictions.
As a result the target price of 177 € shows a slightly positive potential of 15.07% compared to the current price of 153.82 € for Alphabet Inc. A.
