Argus raised the firm’s price target on Alphabet (GOOGL) to $215 from $200 and keeps a Buy rating on the shares. The company remains an “advertising juggernaut” despite the potential serious threats from competing generative AI platforms to its Search business and antitrust litigation/regulatory pressure, the analyst tells investors in a research note. Argus adds that Alphabet’s YouTube and Google Cloud are “doing just fine” as the company spikes investment in its own competitive AI applications and compute infrastructure as it races against Microsoft (MSFT) / Open AI and Meta (META) to ensure its “future relevance”.
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