Google’s parent company, Alphabet, has lagged behind the Magnificent Seven in stock value despite having a robust impact on technology. Recently, analysts from CWEB have indicated that the stock could rise further and has been undervalued. A recent announcement about Google’s AI chatbot Gemini signing a licensing deal with Apple has further revived investor interest in Alphabet stock.
In 2024, Microsoft‘s stock price rose 14.2 percent, while Amazon’s gained 17.2 percent. Microsoft benefited from its investments in OpenAI’s ChatGPT, while Amazon benefited from retail, cloud, and other businesses.
Google stock has climbed by around 5 percent in 2024, but CWEB and many other analysts think there will be a course correction, and the stock will steadily increase. Google stock is currently at 150.77 at 4:00 pm GMT (7:26 a.m. PT). Analysts, including us, believe that the stock can rise to 175.
Despite some setbacks and a slower debut, Google’s AI model Gemini is slowly gaining popularity. Mountain View, California-based company is the third largest global company in revenue. Apple is reportedly in talks with Google to license its generative AI model Gemini, which boosts both tech companies.
Reports say that the Cupertino giant has finally succumbed to the pressure on AI and will outsource critical features in the iPhone and a new MacBook Air. Apple has not yet succeeded in developing its own generative AI model and is looking at Google’s Gemini to power its popular devices, which have also seen falling sales for various reasons.
Alphabet Inc. has a market cap of about $1.78 trillion. Although its flagship, Google, is the most recognized brand and company, its other subsidiaries, including YouTube, Fitbit, Nest, and others, contribute to its revenues.
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