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Alphabet (GOOGL) shares rally as Wall Street analysts upbeat following Google I/O developer conference

May 11, 2023 10:04 AM EDT

Analysts reacting to Alphabet (NASDAQ: GOOGL) owned Google's keynote event at its annual multi-day developer conference Google I/O, have pushed the stock more than 4% higher Thursday.

Goldman Sachs analyst Eric Sheridan explained that Google announced a number of new products, services and features across Search, YouTube, Maps, Workspace, Google Cloud, Android & Pixel hardware devices.

"A key theme during this year's Google I/O keynote was the integration of (generative) AI elements into its core services... More

Google leading the AI assistant race, according to Morgan Stanley

May 10, 2023 11:59 AM EDT

Morgan Stanley analyst Brian Nowak said in a note Wednesday assessing the AI race between Alphabet's (NASDAQ: GOOGL) Google, Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN), and Meta Platforms (NASDAQ: META) that "AI-based assistants seem to be the way."

The analyst stated they see "transformer models and large language models (LLMs) leading to the development of next Gen AI assistants with increased personalization, incremental use... More