Alphabet (GOOGL) Stock Holds Strong Amid Legal Uncertainty, Says JPMorgan

Alphabet Inc. (NASDAQ:GOOGL) ranks among the best stocks to buy for the next 6 months. JPMorgan maintained its Overweight rating and $232 price target on Alphabet Inc. (NASDAQ:GOOGL) on July 28. With recent investor discussions centered on the impending court ruling about remedies in the search commercial agreement issue, the bank noted that Alphabet has emerged as “one of the most debated stocks” in its coverage universe.

Alphabet (GOOGL) Stock Holds Strong Amid Legal Uncertainty, Says JPMorgan

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Despite acknowledging that “the exact nature and financial implications of the remedy remain difficult to predict,” JPMorgan anticipates the judge’s ruling to be made public by August 8.

The firm thinks this uncertainty explains why Alphabet Inc. (NASDAQ:GOOGL) shares had a relatively subdued response to its second-quarter results release, climbing only 1% in comparison to the S&P 500, which remained flat.

That said, JPMorgan reiterated its ongoing strong outlook on Alphabet’s stock by calling the company’s most recent quarterly performance “a defining quarter” despite the legal haze.

Alphabet Inc. (NASDAQ:GOOGL) is a leading tech giant with a diverse portfolio, offering products such as Google Ads, Google Chrome, Google Cloud, Search, and YouTube, holding a dominant position in each of these markets.

While we acknowledge the potential of GOOGL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GOOGL and that has 100x upside potential, check out our report about this cheapest AI stock.

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