Prominent Investor Unloads His GOOG Stock

Well-known investor Josh Brown disclosed on CNBC recently that he had sold all of his shares of Alphabet (GOOG,GOOGL).

Brown, the CEO of Ritholtz Wealth Management, stated that he was concerned about the impact of ChatGPT on Alphabet’s core internet search business.

A laptop and phone open to Google’s services in an everyday setting.

Details About Brown’s Decision and His Motivation

After selling half of his GOOG stock earlier this year, Brown recently parted with his remaining shares.

“Google’s (search engine) has never had to compete the way that it does now with younger generations jumping right into ChatGPT when they want to know something,” Brown asserted. These young consumers “are not looking for blue links and ads; they just want an answer,” he explained.

Google will have to find a way to deal with this challenge, the investor believes.

Brown Suggests That GOOG Is Not Defensive

“I think this will be a defensive year,” said Brown, who asserted that Alphabet and Meta (META) are “the most reliant on ad revenue” among large-cap tech names. But according to the investor, the moat around Meta’s Instagram is “arguably stronger” than that of Google around search.

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Disclosure: None. This article is originally published at Insider Monkey.