The stock is heading back toward what would be a record $2 trillion market value – a milestone surpassed only by Microsoft, Apple and Nvidia in the United States. It has rallied back from last month’s low, when the shares dropped on concerns the company was falling behind in AI.
Using this week’s cloud event to show that its AI model is enterprise-ready despite recent stumbles in its consumer-facing tools, focus is now turning to this month’s earnings and a developer’s conference in May. While Alphabet’s path to AI monetization is still seen as cloudy, the stock’s relatively cheap valuation has kept it attractive.
“While the headlines haven’t been favorable, Google’s role in generative AI products will present massive growth opportunities for the stock,” said Sylvia Jablonski, chief executive officer at Defiance ETFs.
