March 26, 2024

According to research analysts at Wedbush, Alphabet Inc., the parent company of Google (GOOGL), has a strong potential to dominate the market in Artificial Intelligence (AI). This would likely trigger a significant increase in Alphabet’s stock value. These bold predictions have led Wedbush to add Alphabet to their “Best Ideas List” and to raise their price target from $160 to $175 per share, suggesting a 15% bull movement.

Wedbush analysts argue that concerns about Google Search’s structural risks are overstated. Alphabet, they suggest, is poised to benefit greatly from generative AI due to its unique position in the market. Alphabet’s competitive advantages include a large amount of available data for training AI models and a massive pool of users across its various products such as Android, Search, and YouTube.

The analysts also indicate a potential partnership between Alphabet and Apple to integrate Alphabet’s Gemini AI into iPhones. Such a collaboration could further elevate Alphabet’s standing in the AI space. Thus, on the basis of these factors, Alphabet’ s stock is viewed as primed for a remarkable surge.