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Alphabet stock falls after analyst's AI warning

Alphabet stock falls after analyst's AI warning


Alphabet (GOOG, GOOGL) stock falls ahead of Monday's close after Melius Research analyst Ben Reitzes warned about Google's AI direction and reiterated a hold rating on the stock. did. Yahoo Finance Live monitors the stock of Google's parent company.

For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.

Editor's note: This article was written by Luke Carberry Mogan.

video transcript

Josh Lipton: Google's parent company Alphabet's stock is down today. It came after an analyst shared his concerns about the tech giant. Melius analyst Ben Reitzes emphasized that Alphabet's failures in his AI could fuel the perception that Google is an unreliable source of artificial intelligence.

The analyst reiterated that it maintains its rating on the company. This was interesting. Interesting note, Julie, yes, he reiterated that the overall goal was his $1.64. But this was a pretty strict caveat. And the bottom line is, yes, he says, there is a moat for exploration, but he says this space is about to be destroyed.

He said that frankly other MagSeven companies are outperforming their peers in optimizing profits for growth and recurring revenue, and that the AI ​​image generator the company released last week, called Text Image AI, is frankly a fiasco. He talked about how it happened. It made headlines for all the wrong reasons. And if this actually fosters the perception that the company is an unreliable source of his AI, he says, that's understandably bad for business.

Julie Hyman: Yeah. His notes on this are called “Cheap for a Reason.”

Josh Lipton: Yeah.

JULIE HYMAN: You know, he has a hold rating on the stock. It's also interesting that he suggests an alternative to Google search. He encourages people to try his Perplexity AI solution. He mentions in his note that it is his Perplexity AI, which is a private company. He also talks about OpenAI running new search products.

Perplexity runs on the OpenAI platform. You have to wonder why certain habits are powerful forces. So you might think it would take a long time for people to stop using Google. But this is an interesting question about reliability. Because Google has worked because of its credibility in search.

Josh Lipton: Yeah. I think this speaks to this broader concern that we're hearing about Alphabet, but among certain analysts and investors, they think so. They're kind of a positioned AI, and they have data. They have some of the best engineers on the planet. They certainly have piles of cash. But the recognition is that they're probably not moving as fast as some of their peers.




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