Alphabet Inc. (NASDAQ:GOOGLE) is one of the Popular AI Stocks to Keep on Your Radar. On October 9, BMO reiterated that the stock was “outperform” and raised its price target to $294 per share from $225. The firm attributes the strengthening of the company’s leadership in its search, cloud and YouTube platforms.
“GOOGL’s AI leadership continues to translate into strength in core search and Google Cloud Platform (GCP) based on expert evidence, as GOOGL benefits from continued AI integrations and product releases, driving incremental user value.”
The firm noted that Google is “committed to integrating AI into Search,” with “AI mode scaling to over 100 million MAUs in the first 2 months.”
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Additionally, it highlighted how expert checks imply that Google’s new AI search features are “providing publishers with less organic/SEO traffic, leading publishers to rely more heavily on paid ads to recover lost traffic/revenue,” which is “a foreseeable tailwind for GOOGL and the advertising industry as a whole.”
Pointing to Google Cloud Platform’s growth, he said, “GCP remains well positioned to gain share, supported by AI product integrations and the rise of native AI workloads.”
Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology conglomerate that fully owns Internet giant Google, among other companies.
While we recognize GOOGL’s potential as an investment, we believe certain AI stocks offer greater growth potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
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