Alphabet Faces Uncertainty as Rosenblatt Analyst Sees End to Search Disruption Risk

Rosenblatt analyst Scott Devitt initiated coverage on Alphabet Inc. (NASDAQ: GOOGL) with a Buy rating, suggesting that Wall Street's worries about AI chatbots dismantling Google's traditional search franchise have mostly materialized and are now reflected in valuation.

Devitt's $410 price target thesis argues that the multi-year risk narrative is nearing its conclusion, implying that Alphabet shares could be trading at levels that discount significant erosion of search revenues.

However, the 90% market share figure cuts both ways, it demonstrates entrenched dominance, but also represents a concentrated risk. Any meaningful shift in user behavior toward chatbots could translate directly into revenue pressure.