#2 - Alphabet (NASDAQ:GOOGL)
Speaking of Google, the next company on this list of AI stocks is Google’s parent company, Alphabet Inc. (NASDAQ: GOOGL). Alphabet knows that ChatGBT threatens its supremacy in the world of search.
But while that day may be coming sooner than expected, it’s not here. And Alphabet is not likely to give up market share lightly. Plus, while Alphabet, via Google, is best known for its search engine, it’s also using AI as part of its cloud computing. Here it is a distant competitor to Amazon Web Services, but it’s still an area of the business that could be an opportunity.
GOOGL stock fell in lock step with many tech stocks in 2022. That’s brought the company’s valuation down to a much more appealing 18x earnings. That puts it at a discount to the S&P 500 Index, which has a P/E of around 28x and makes it a good target for long-term investors looking to capitalize on AI.
About Alphabet
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
Read More - Current Price
- $167.83
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 35 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $205.90 (22.7% Upside)
