Stifel Reiterates Buy on Alphabet (GOOGL) After AI-Focused Made by Google Event

Alphabet Inc. (NASDAQ:GOOGL) is one of the Hot AI Stocks to Keep on Your Radar. On August 21, Stifel analyst Mark Kelley reiterated a Buy rating and $222.00 price target on the stock. The reiteration follows Google’s annual Made by Google event.

The annual Made by Google event on Wednesday demonstrated the latest generation of Pixel devices. Google’s SVP of Platforms & Devices Rick Osterloh particularly highlighted the company’s AI integration plans, stating how the past two years have been as much about artificial intelligence as they have been about hardware.

“On Wednesday (8/20), we heard from Rick Osterloh (SVP, Platforms & Devices) and co. at Google’s annual Made by Google event, showcasing the latest generation of Pixel devices. The past two year’s-worth of “Made By” events have become as much about AI as it has been about hardware, as the company looks to integrate Gemini seamlessly into every day life; Mr. Osterloh stated “This fall, it’s going to be coming to your car, to your TV, and to your smart speakers and smart display in the home…it’s going to be everywhere you are. We are even working on smart glasses with Gemini.” While Pixel remains a small share of the U.S. market (~3%), we found yesterday’s presentations as very well done, hammering home the key differentiators relative to Apple devices, with Gemini (and Agents) as the center of attention”

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