Is This the End for Alphabet Stock?
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) was slammed last week when a testimony from an Apple (NASDAQ: AAPL) executive stated that he expects traditional search engines to disappear and be replaced with artificial intelligence (AI)-powered search features. This news caused Alphabet's stock to tumble 7%.
In the first quarter, 56% of Alphabet's revenue came from the Google search engine, so this is clearly a huge part of its business. If Google search is replaced by AI, could that be the end of Alphabet's stock as investors know it?
Image source: Getty Images.
Source Fool.com
Alphabet Inc. A Stock
€270.60
-0.700%
The stock is one of the favorites of our community with 146 Buy predictions and 4 Sell predictions.
As a result the target price of 306 € shows a slightly positive potential of 13.08% compared to the current price of 270.6 € for Alphabet Inc. A.
