BofA analyst Justin Post said the firm’s analysis of data suggests Bing activity since Microsoft’s (MSFT) OpenAI announcement on February 7 is not impacting Google (GOOGL) Web traffic or search download activity, which has been stable since November. Google CFO Ruth Porat spoke at a broker conference last week and gave some higher-level AI commentary that the firm viewed as "constructive," stating that the commentary on AI suggests products are coming and costs are manageable. BofA keeps a Buy rating and $125 price target on shares of Google parent Alphabet.
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