Shares of Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) plunged so far in today’s trading session after Microsoft (NASDAQ:MSFT) announced that it’ll be integrating OpenAI’s updated technology into its Bing search engine. Indeed, this is expected to actually make Bing better than ChatGPT itself, as it’s specifically designed for search engines.
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This has the potential to significantly disrupt Google’s dominance in this particular segment, which is what has given it such a strong moat against competitors for a very long time now. Nevertheless, Google is fighting back with a new multi-search tool that uses Google Lens to search with text and images. It also made updates to its translation and Maps services.
Overall, Wall Street analysts have consensus price targets of $129.81 and $285.90 on GOOGL and MSFT stocks, respectively. This implies upside potential of over 31% and 6%, as indicated by the graphic above.
