5 Best Undervalued Stocks To Buy Now According To The Media

2. Alphabet Inc (NASDAQ:GOOG)

No. Of Hedge Fund Investors: 221

There have been concerns about the future growth of Alphabet Inc (NASDAQ:GOOG) amid the AI wave that is promising to change how people search, the biggest business of Alphabet Inc (NASDAQ:GOOG) and its bread and butter. But the recent release of Alphabet Inc’s (NASDAQ:GOOG) LLM Gemini has highlighted how the market was estimating Alphabet Inc’s (NASDAQ:GOOG) AI prowess. If anything, OpenAI’s launch of ChatGPT nudged Google to get its act together and unleash itself by opening the floodgates of innovation. Many analysts believe the market is not valuing the Alphabet Inc’s (NASDAQ:GOOG) Cloud and Other Bets business segments properly. Alphabet is also positioned to keep its video ads dominance, thanks to YouTube.

Carillon Clarivest Capital Appreciation Fund made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2023 investor letter:

“Alphabet Inc. (NASDAQ:GOOG), the parent company of Google, provides online advertising services worldwide. The company launched its chatbot in Europe and Brazil and said that the artificial intelligence tool can now be interacted with in more than 40 languages and includes new features such as the ability to use images in chat.”