Alphabet Stock Jumps as Wall Street Hikes Price Targets Amid AI Frenzy
Alphabet Inc.'s stock rose by 2.5% after upbeat AI product news boosted long-term growth expectations.
Oppenheimer projects Alphabet's external TPU sales could add roughly $170B in incremental Google Cloud revenue through 2028, with Cloud and EPS running well ahead of current Street estimates.
Evercore ISI raised its Alphabet price target from $420 to $450 and reiterated an Outperform rating after a survey showed Google strengthening search leadership and Gemini gaining share versus ChatGPT.