We recently published a list of 10 AI Stocks Gaining Wall Street’s Attention. In this article, we are going to take a look at where Alphabet Inc. (NASDAQ:GOOG) stands against other AI stocks gaining Wall Street’s attention.
One of the most notable analyst calls on Tuesday, May 27, was for Alphabet Inc. (NASDAQ:GOOGL). Cantor Fitzgerald analyst Deepak Mathivanan reiterated a “Neutral” rating on the stock with a $171.00 price target. Alphabet Inc. (NASDAQ:GOOG) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses.
A laptop and phone open to Google’s services in an everyday setting.
Discussing the company’s recent announcements at Alphabet’s I/O conference, the firm described the sentiment towards Alphabet shares as incrementally positive. Some developments discussed include the launch of AI Mode for U.S. search users, the integration of agentic capabilities into apps and services, including the Gemini app and Chrome, as well as the new Gemini Ultra subscription tier with Project Mariner, and the XR glasses designed for immersive AI experiences.
“In the past week, GOOGL hosted its annual I/O and Marketing Live conferences, where the company rolled out a long list of new products in its family of apps. Notable announcements from I/O, in our view, include: 1) launch of AI Mode for US search users, 2) integration of agentic capabilities into various apps & services including Gemini app, AI Mode, and Chrome soon, 3) new Gemini Ultra subscription tier with Project Mariner, and 4) XR glasses for immersive AI experiences. At Marketing Live, the key announcements include 1) expansion of ads in AI Overviews and launch of ads in AI Mode, 2) creative iteration with Veo 3 and Imagen 4, and 3) new agentic capabilities for campaign management. GOOGL’s strong tech and infra capabilities were never in doubt and I/O made it abundantly clear that the company is willing to accelerate deployments of GenAI experiences into core products to improve user experience and defend share against competing GenAI products. We came away sensing an increased level of urgency at GOOGL post this I/O event. While some of the product launches are likely to take time before seeing meaningful adoption, we are incrementally positive on GOOGL shares post I/O. Shares outperformed the Nasdaq by 4-pts during the past week.”
Overall, GOOGL ranks 1st on our list of AI stocks gaining Wall Street’s attention. While we acknowledge the potential of GOOGL as an investment, 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.
READ NEXT: 10 AI Stocks on Analyst’s Radar Today and 10 AI Stocks on Wall Street’s Radar.
Disclosure: None. This article is originally published at Insider Monkey.
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