Alphabet’s earnings are increasingly driven by AI, while ON Semiconductor is poised for growth once electric vehicle investment rebounds. Synopsys faces market challenges but its latest acquisition aligns with its strategy. Wall Street analysts favor all three stocks, with Alphabet stock up 42% in 2025, ON Semiconductor down 16%, and Synopsys down 4%.

ON Semiconductor has 15 buy/outperform ratings, Synopsys has 18, and Alphabet has 57. ON Semiconductor’s consensus price target is $58 with an expected 12-month change of 10.1%. Synopsys has a consensus price target of $556.40 with an expected 12-month change of 19.7%. Alphabet’s consensus price target is $263 with an expected 12-month change of -2.6%.

Analysts upgraded Alphabet due to reduced risks from a favorable antitrust ruling and potential AI earnings growth in Google Cloud. ON Semiconductor remains a favorite but faces short-term EV market risks. Synopsys is progressing with its acquisition but faces challenges in its IP segment, particularly in China and with key customers.

ON Semiconductor and Synopsys have strong long-term prospects but face near-term risks. Alphabet offers stability as a megacap stock. ON Semiconductor appears most attractive on a risk/reward basis, followed by Synopsys. Alphabet, while attractive, has limited upside potential compared to the other two.

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