Alphabet Stock Gains on Price Target Increase: Key Insights to Consider

Why Alphabet Stock Popped Again Today

Even without AI, there's a lot to like about Alphabet stock. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) stock, which started this week on a high note -- rising 4.6% Monday on news Apple (NASDAQ: AAPL) may license Google's Gemini for use on the iPhone -- is looking as if it may end the week on a similarly high note, up 2.1% through 11:55 a.m. ET.

What Wedbush said about Google

Considering how the week began, you'll be unsurprised to learn that artificial intelligence is key to Wedbush's buy thesis. "Alphabet ... has an unmatched breadth of data to develop and train AI models across text, images, and video, [and] a massive user base spanning Google Search, YouTube, Android, and other Google applications," argues Wedbush. And given these advantages going into AI battle, Wedbush simply believes that investor worries about Google coming late to the game are "overstated."

...Even if the AI bull argument falls apart, Alphabet still has a healthy core business to fall back on. With dominant market share and a stock valued at only 25 times earnings -- 12% cheaper than the S&P 500 index, by the way -- Alphabet stock looks like a buy to me.