Citi keeps a Buy rating on Alphabet (GOOG) (GOOGL) with a $200 price target after Apple’s Eddy Cue suggested that Google Search volumes on the Safari browser declined in April for the first time given rising adoption of ChatGPT, Perplexity AI, Anthropic, among others. Cue ‘s testimony also suggested Apple may include these other artificial intelliotence providers as options within Safari’s AI Search results, the analyst tells investors in a research note. The firm says that while competition in the search landscape is at its highest level potentially ever, it is focused on Alphabet’s newer products gaining generative AI share. Citi is positive on Gemini 2.5 and the expanded beta version of AI Mode.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOOG:
- Period Network participates in a conference call with Needham
- Amazon kills cookieless ad product after Google’s U-turn, ADWEEK says
- AI Daily: Apple considers adding AI Search to browser
- China announces stimulus measures, Disney reports Q2 beat: Morning Buzz
- Alphabet slips as Apple considers adding AI Search to browser