JPMorgan: Alphabet (GOOGL) Remains a Top Performer Among the ‘Mag 7’

Alphabet Inc. (NASDAQ:GOOGL) is a Must-Watch AI Stock on Wall Street. On October 27, JPMorgan reiterated the stock as “Overweight” and raised its price target on the stock to $300 per share from $260. The firm believes that Alphabet is the second-best performing “Mag 7” name year-to-date, up 37% and 80% from April lows.

“Google is the 2nd best performing Mag 7 name YTD—up 37% YTD and 80% from the April lows (compared to the SPX +15% and +36%)—and our recent discussions with investors frequently focus on what’s next following the big run.”

A major overhang was removed when the company received a favorable outcome in the DOJ Search Commercial Agreement trial. Google also demonstrates strong financial performance and AI innovation, the firm noted.

Google

JP Morgan also believes that Google is handling the transition to AI search well and is likely to sustain double-digit growth in Search. YouTube ad growth will also possibly accelerate on share gains, the firm noted. Moreover, Google Cloud growth is accelerating in its AI positioning and TPU infrastructure.

The upcoming Gemini 3 launch will further strengthen the Google ecosystem and catalyze shares. Despite intensifying competition with OpenAI, JP Morgan believes that Google has key advantages in data, distribution, and balance sheet strength.

Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses.

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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