Why Alphabet Stock Popped Today
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Alphabet's stock rose 3% after announcing the upcoming launch of its Gemini AI assistant for smartwatches, but later settled at a 1.2% gain. The AI will be accessible on various Wear OS devices, allowing users to interact with Google services. Despite the innovation, concerns remain about its impact on ad sales and profitability, given Alphabet's significant investments in AI, totaling $57.7 billion. With a high price-to-free-cash-flow ratio and modest growth expectations, the stock may still be considered too expensive to buy.
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