From Nasdaq: 2024-05-03 04:43:00

Recent advances in artificial intelligence (AI) are driving a surge in adoption, with potential for increased productivity and profits. Argus Research raised Alphabet’s stock price target to $200, predicting 22% gains. Alphabet’s strong Q1 results show robust revenue growth and cost cutting, boosting operating income by 46%.

Alphabet’s success is driven by Google Search, YouTube, and Google Cloud revenues. Despite regulatory challenges, Google remains strong in advertising. Alphabet’s market cap now surpasses $2 trillion, as it plans to pay dividends for the first time. With a P/E ratio of 25, Alphabet presents a buying opportunity.

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Read more at Nasdaq: Is Alphabet Stock Headed to $200? 1 Wall Street Analyst Thinks So.