5 Best AI and Technology Stocks to Buy Now

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 265

Alphabet Inc. (NASDAQ:GOOGL) is one of the Best AI and Technology Stocks to Buy Now. On June 23, Argus maintained a “Buy” rating and a price objective of $440 on the company’s stock. Notably, the company reported healthy results with evidence that investments made towards compute infrastructure and generative AI are yielding results.

As per the analyst, while Alphabet Inc. (NASDAQ:GOOGL) was criticized due to its dependency on digital advertising, the rapid growth of Google Cloud and YouTube started to diversify its revenue. The firm remains optimistic about Alphabet Inc. (NASDAQ:GOOGL)’s underlying businesses and believes that the stock is attractively valued considering its growth runway.

In a different update, Bloomberg reported that Waymo plans to offer driverless robotaxis in Germany. This is the latest move to expand outside the US. The company registered a local entity in the name of Waymo Germany GmbH. This will provide ride-hailing services with autonomous vehicles as well as services that support the commercial offering of such services by third parties, added Bloomberg.

Alphabet Inc. (NASDAQ:GOOGL) is a holding company that operates Google services such as search engines, ad platforms, Internet browsers, devices, mapping software, app stores, video streaming, and more. The company also offers cloud infrastructure and platform services, collaboration tools, and other services for enterprise customers.

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