Bernstein analyst Mark Shmulik likens Alphabet Inc.'s stock to the feeling of a "warm hug," but for the time being, he's willing to let the embrace...
Bernstein analyst Mark Shmulik likens Alphabet Inc.’s stock to the feeling of a “warm hug,” but for the time being, he’s willing to let the embrace go.
Among... Bernstein analyst Mark Shmulik likens Alphabet Inc.’s stock to the feeling of a “warm hug,” but for the time being, he’s willing to let the embrace go. Among Shmulik’s concerns is that the Google parent company moved “from too slow to too fast in AI.” Investors had been somewhat concerned earlier this year that Alphabet wasn’t doing enough in AI to keep pace with Microsoft Corp. MSFT , which was winning the battle of public opinion thanks to its partnership with ChatGPT creator OpenAI.
“Google’s search market position is under increasing threat,” he said in his note to clients. “We see the rise of retail media, dollar shift back up-funnel to Meta, changing consumer behavior to vertical-specific searches, convergence of trade and search ad dollars, and some near-term AI-related monetization risks all contributing to pressure Google Searches growth.”
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