10 AI News You Should Not Miss

2. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 202

Alphabet Inc. (NASDAQ:GOOGL) provides AI-driven solutions across various platforms, improving cloud services, business tools, and consumer products, while prioritizing the advancement of AI research.

Truist analyst Youssef Squali reiterated a Buy rating on Alphabet (NASDAQ:GOOGL) with a price target of $225, expecting fourth-quarter 2024 results to show continued strength in Search, YouTube, and Cloud, along with operating margins exceeding 30% due to cost controls. Revenue is projected to grow in the low double digits, driven by strong engagement and ad growth in sectors like health, consumer goods, retail, and politics. While concerns over AI developments in Search and regulatory issues persist, Squali emphasized Google’s strong position in the AI-driven Search space.