Argus Maintains Buy Rating on Alphabet (GOOGL) Stock

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.

Argus Maintains Buy Rating on Alphabet (GOOGL) Stock

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.

While we acknowledge the risk and potential of GOOGL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GOOGL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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