Alphabet Inc. (NASDAQ:Google) is one of Hot AI Stocks to Keep on Your Radar. On October 9, BMO reiterated the stock as “outperform” and raised its price target to $294 per share from $225. The company credits the company’s strengthened leadership in search, cloud and YouTube platforms.
“GOOGL’s leadership in AI continues to become a strength in basic search and GCP (Google Cloud Platform) based on expert checks, as GOOGL benefits from ongoing AI integrations and product launches, increasing user value.”
The company noted that Google is “fully integrating AI into search,” with “AI mode expanding to over 100 million MAUs in the first two months.”
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He also highlighted how expert examinations indicate that Google’s new AI search features “provide publishers with less organic/SEO traffic, leading publishers to rely more heavily on paid advertising to make up for lost traffic/revenue,” which is “an expected tailwind for GOOGL and the broader advertising industry.”
Pointing to the growth in Google Cloud Platform, he said, “Google Cloud Platform remains well-positioned for stock gains, supported by AI product integrations and increased AI native workloads.”
Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology holding company that wholly owns the Internet giant Google, among other companies.
While we recognize GOOGL’s potential as an investment, we believe some AI stocks offer greater upside potential and carry less downside risk. If you’re looking for undervalued AI stocks that will also benefit significantly from the Trump-era tariffs and the reshoring trend, check out our free report on Best AI stocks for short term.
Read next: 10 trending AI stocks on Wall Street’s radar and 10 AI stocks in the spotlight for investors
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