Alphabet Inc (NASDAQ:GOOGL) is one of billionaire David Abrams’ top stock picks with upside potential. Alphabet shares have more than doubled in the past year, and analysts see the stock rising more from the current level. Alphabet is a big favorite of elite investors, as the stock is backed by 265 hedge funds.
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On July 2, the EU’s top court upheld the $4.7 billion antitrust fine against Alphabet Inc (NASDAQ:GOOGL). The fine is linked to how Google handled Android licensing after regulators accused the company of abusing its market power. Alphabet had fought hard to overturn the fine but lost the battle.
While Alphabet has lost the fight against the EU’s Android fine, the company’s prospects remain bright. On June 30, Morgan Stanley raised its price target on Alphabet shares to $415 from $375 and kept an Overweight rating on the stock. The brokerage commented that Alphabet is one of the best-positioned AI companies around, noting the company’s expanding AI compute capacity and surging demand for AI resources.
Alphabet Inc (NASDAQ:GOOGL) is a global technology conglomerate. It is the parent of Google, a leading provider of internet search, online advertising, and cloud computing services. Alphabet is involved in life sciences through Verily and provides robotaxi services through Waymo.
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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