Why Alphabet Rose 14.5% in May
Shares of search and cloud giant (NASDAQ: GOOG) (NASDAQ: GOOGL) rose 14.5% in May, according to data from S&P Global Market Intelligence.
The Google parent unveiled many new technologies during its I/O conference early in the month. And just after that, 13F filings released midmonth revealed that a bunch of high-profile hedge funds had bought or added to their stakes in Alphabet during the first quarter.
Alphabet had been a relative laggard during the first quarter compared with some of its big-tech brethren, as investors feared that generative AI could disrupt the conglomerate's core search business. However, Alphabet appeared to put at least some concerns to rest in a high-profile company event.
Source Fool.com
Alphabet Inc. A Stock
€161.16
0.950%
With 82 Buy predictions and not a single Sell prediction Alphabet Inc. A is an absolute favorite of our community.
With a target price of 165 € there is a slightly positive potential of 2.38% for Alphabet Inc. A compared to the current price of 161.16 €.
