Alphabet Inc. (NASDAQ: GOOGL, GOOG) experienced increased engagement within its AI ecosystem in September, largely driven by the growth of its Gemini platform and new image-generation tools. Despite competitive pressure from OpenAI’s ChatGPT, Google Search traffic proved stable, according to Bank of America analyst Justin Post, who maintained a Buy rating with a $252 price target. Data from Similarweb indicated an uptick in global web visits to Google, totaling 2.8 billion, while ChatGPT saw a 90% surge to 197 million. In the U.S., Google traffic was flat year-over-year at 537 million, yet increased by 3.2% month-over-month. AI platforms, including Gemini, enjoyed significant growth, adding millions of daily active users. Although Google’s global search market share rose slightly, it faced a notable year-over-year decline in the U.S. market. Analysts foresee steady earnings growth for Alphabet, projecting improvements in earnings per share through 2027.
Source link
Share
Read more