Google Stock Price Seen Rising as Market Trend Trumps Company Woes

Alphabet's stock price has been volatile in recent days, dropping nearly four percent on Tuesday while the broader market barely moved. The company's Class A shares have given back around eight percent over five trading sessions.

However, according to Polymarket odds, investors are betting that Alphabet's stock will rise on Wednesday, with 'Up' being the clear favorite. This is not due to any recent company news, but rather the overall market trend.

The inflation data released at 8:30 a.m. ET was cooler than expected, which has led to index futures firming up and strong earnings from CoreWeave and Super Micro Computer putting the AI trade back on the front foot.

One of the key factors that could influence Alphabet's stock price is its recent debt issuance, with a $25 billion senior notes offering closing Monday. This adds long-dated interest obligations to an already heavy AI buildout.