Mag7 and Beyond: Top 10 AI News Updates and Ratings

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 234

Alphabet Inc. (NASDAQ:GOOG) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses. On March 31, Wells Fargo analyst Ken Gawrelski lowered the firm’s price target on the stock to $167 from $184 and kept an “Equal Weight” rating on the shares. The firm is staying cautious on Alphabet shares amid recent trough multiples and bearish investor sentiment. This caution exists because Google’s search business could be disrupted by new technologies such as AI and also because of below-consensus estimates.