Alphabet Stock Falls As OpenAI Plans 'SearchGPT': What Investors Need To Know
Goldman Sachs upgraded Alphabet's target price to $217 and looks forward to its position as the leader in AI.
Goldman Sachs released a research report stating that Alphabet's second quarter performance showed steady performance in search and other businesses, better than Goldman Sachs and market expectations. Cloud business revenue growth accelerated, and operating profit margins benefited from healthy development in the cloud computing market and AI trends. However, subsidiary YouTube advertising will face increasingly fierce market competition. Looking ahead to the third quarter, the bank lowered its total revenue forecast from $86.44 billion to $86.09 billion, and its EBITDA forecast from $29.91 billion to $28.74 billion. Earnings per share are expected to reach $1.8. For the whole year, Goldman Sachs expects a 202...
A Quick Look at Today's Ratings for Alphabet-C(GOOG.US), With a Forecast Between $205 to $212
SearchGPT confronts Google head-on?! Citigroup: no need to worry too much | AI dehydration.
SearchGPT is only available to 0.01 million users in the initial stage, and will not have a significant impact on Google in the short term.
Why Stocks Fall After Earnings. A User's Guide. -- Barrons.com
OpenAI launches the SearchGPT challenge to compete with Google, an upcoming revolutionary search experience.
OpenAI unveiled its search engine prototype SearchGPT on Thursday, aiming to provide users with "quick and timely answers as well as clear and relevant sources".
