Why Alphabet Stock Rallied Thursday Morning
Shares of (NASDAQ: GOOGL) (NASDAQ: GOOG) turned higher Thursday, gaining as much as 2.9%. As of 2:37 p.m. ET, the stock was still up 1.8%.
The catalyst that sent the tech giant higher was the settlement of a patent infringement lawsuit.
On Wednesday, Google reached a settlement to end a $1.67 billion patent infringement lawsuit brought by Singular Computing. Singular founder Joseph Bates claimed in court filings that Google had misappropriated innovations he developed, integrating that technology into its artificial intelligence (AI) processors back in 2017. Google developed Tensor Processing Units (TPUs), which were specifically designed to accelerate machine learning and AI workloads and make the process more efficient.
Source Fool.com
Alphabet Inc. A Stock
€153.82
-0.320%
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.
