Why Google Parent Alphabet Is Rallying Today
Shares of technology giant Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) are up 4.7% as of 3:25 p.m. ET, mostly in response to an announcement made at the company's I/O conference. Speaking at the one-day annual event aimed at web developers and programmers, CEO Sundar Pichai unveiled a key new technology.
Users of the Google search engine may soon notice a new feature. Alphabet's so-called Search Generative Experience will facilitate new kinds of user interactions with the web. Specifically, the newly unveiled tech will use artificial intelligence to make for a more satisfying, conversational experience. The move is undoubtedly in response to a similar offering from rival Microsoft's search engine Bing.
Such an offering may prove to be a much-needed draw to Google and its affiliated platforms. Last quarter's revenue was up a scant 6% year over year on a constant-currency basis, while advertising revenue itself fell just a bit. Per-share earnings slipped from $1.23 a year earlier to $1.17 for the three-month stretch ending in March.
Source Fool.com
Alphabet Inc. A Stock
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As a result the target price of 177 € shows a positive potential of 21.62% compared to the current price of 145.54 € for Alphabet Inc. A.
