Google in good position to be net benefciary of Gen-AI, says Baird

Baird analyst Colin Sebastian made no change to the firm’s Outperform rating or $120 price target on Alphabet (GOOGL) shares after the company announce enhancements to core apps that use on-device AI and generative AI features. Though Microsoft (MSFT) is winning the early Gen-AI PR sprint, the marathon is still in the early stage, and over the longer haul, Google has competitive advantages in scale, engineering, cloud resources and AI capabilities, putting them in a good position to be a net beneficiary of Gen-AI, the analyst tells investors in a research note.