Alphabet Inc. (GOOG) ad revenue will drop going forward, veteran investor Kevin Simpson predicted on Friday on CNBC.
Simpson, the founder and Chief Investment Officer of Capital Wealth, sold a portion of his Alphabet Inc. (GOOG) holdings recently.
Also making bearish comments on Alphabet Inc. (GOOGL) during the same segment was Brenda Vingiello, the Chief Investment Officer of Sand Hill Global Advisors. The latter firm is a wealth management company located in Silicon Valley.
Simpson Expects GOOG’s Ad Revenue to Fall
Simpson noted that he now uses Google’s search engine for about 80% of his online queries, while he utilizes ChatGPT for most of his remaining searches.
A portion of GOOG’s overall search ad revenue will migrate to other firms, Simpson warned.
He noted that he only has “a little bit” of Alphabet Inc. (GOOG) stock left at this point.
Vingiello Also Makes Bearish Comments on GOOG
With more consumers using AI chatbots for searches, “there’ a lot of concern about (the outlook of) traditional search,” Vingiello warned.
The Recent Price Action of GOOG Stock
