- Oppenheimer analyst Jason Helfstein had an Outperform rating on Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google with a $145 price target.
- On Wednesday, Alphabet hosted its annual developer conference Google I/O, focusing on how the company is integrating AI into its products.
- The buoyant stock price movement from the event’s start reflects that the presentation largely suppressed near-term investor angst over the lack of AI innovation vs. Microsoft Corp (NASDAQ:MSFT) and OpenAI.
- While some of its GenAI capabilities resembled ChatGPT, Google showcased integration into Search while keeping blue links relevant.
- The company also showcased integrations with Gmail, Photos, Docs, Cloud & Maps.
- The analyst remains confident of Google Search volume remaining uninterrupted by ChatGPT. Additionally, reports that Microsoft is eyeing a Firefox search deal as the Bing chatbot has failed to make a mark against Google further added to the analyst’s bullish thesis on Google.
- Price Action: GOOG shares traded higher by 4.75% at $117.61 on the last check Thursday.
Investigating Microsoft’s Standing In Software Industry Compared To Competitors
In the dynamic and cutthroat world of business, conducting thorough company analysis is essential for investors and industry…
