Why Alphabet Stock Was Rising Again Today
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Shares of Alphabet (GOOG, GOOGL) rose 2.4% today, driven by positive investor reactions to product announcements from the I/O developer conference. The company introduced AI Mode in Google Search and a subscription service for AI users, indicating a monetization strategy for its AI investments. Despite previous concerns over antitrust issues and competition from Apple, analysts view Alphabet as undervalued with a price-to-earnings ratio of 19, suggesting potential for continued stock gains as its AI strategy develops.
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