Shares of Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) are down in today’s trading. This can be attributed to news from Samsung (GB:SMSN), which is considering a move to make Microsoft’s (NASDAQ:MSFT) Bing the default search engine on its devices. Such a move could impact Alphabet’s revenue by $3 billion, according to the New York Times.
Negotiations are still ongoing, and Google may still remain the default search engine. Nevertheless, this potential move highlights just how disruptive OpenAI’s technology has become, as it poses a serious threat to Google’s dominance.
Overall, Wall Street analysts have a consensus price target of $127.75 on GOOGL stock, implying over 21% upside potential, as indicated by the graphic above.