Reported 27 days ago
Analysts have increased their price targets for Alphabet stock after the company reported impressive third-quarter earnings, highlighted by significant growth in its cloud revenue and effective AI investments. Alphabet's cloud revenue surged by 35%, bolstered by strong demand for AI tools from enterprise customers, while ad revenue from Search and YouTube also showed robust gains. As a result, several analysts have adjusted their price targets upwards, reflecting increased confidence in Alphabet's ability to capitalize on its AI advancements and maintain profitability despite competitive pressures.
Source: YAHOO