Alphabet Class A ( (GOOGL) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Alphabet Class A is making strategic moves to reshape its business portfolio. The tech giant is planning to sell or spin off Verily, its life sciences subsidiary, as it no longer aligns with Alphabet’s core business focus. This decision follows Verily’s recent shutdown of its medical device program to concentrate on artificial intelligence and data infrastructure. Meanwhile, Alphabet is actively expanding its other subsidiaries, such as Waymo and DeepMind, with new initiatives in self-driving technology and AI models for robotics.
In addition to these strategic shifts, Alphabet’s collaboration with Walmart to enhance the retailer’s tech brand Onn with Google-powered security cameras highlights its commitment to AI and smart home technology. Despite these developments, Alphabet’s stock is currently rated as a Strong Buy by analysts, although the average price target suggests limited upside potential. Nevertheless, Alphabet’s advancements in AI, particularly with its Gemini platform, are seen as promising, with analysts optimistic about its future growth in the AI sector.