Alphabet Inc. (NASDAQ:GOOGL) is one of the Hot AI Stocks to Keep on Your Radar. On October 9, BMO reiterated the stock as “Outperform” and raised its price target to $294 per share from $225. The firm credits the company’s strengthening leadership in its Search, Cloud, and YouTube platforms.
“GOOGL’s AI leadership continues to translate into strength in core Search and GCP [Google Cloud Platform] per expert checks, as GOOGL benefits from ongoing AI integrations and product launches, driving incremental user value.”
The firm noted that Google is “all in on AI integration into Search,” with “AI Mode scaling to 100M+ MAUs in the first 2 months.”
Photo by Kai Wenzel on Unsplash
It further highlighted how expert checks imply Google’s new AI search features are “providing publishers with less organic/SEO traffic, leading publishers to lean further into paid ads to recoup the lost traffic/revenue,” which are “a foreseeable tailwind for GOOGL and the broader advertising industry.”
Pointing to growth in Google Cloud Platform, it said that “GCP remains well-positioned for share gains, supported by AI product integrations and ramping AI-native workloads.”
Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses.
While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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