Investors should buy Alphabet stock as soaring interest in ChatGPT shows no sign of negatively impacting Google's search business, Bank of America says
, there have yet to be any negative signs that suggest Google's core business is deteriorating at the expense of the newly launched ChatGPT, and that should entice investors to buy the stock.
Meanwhile, Bing mobile downloads have soared since its February 7 announcement with ChatGPT. Prior to the announcement, daily global downloads of Bing averaged 11,300. On February 9, downloads of Bing peaked at 286,500. For context, daily global downloads of Google average at just under 400,000. "The uptick in Bing downloads has not impacted Google download activity, which has been stable in January and February, and we are not aware of any slowing in Google search revenues that could be attributed to the late-2022 ChatGPT launch," BofA said.
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