Will Alphabet Stock Soar After Oct. 28? History Offers an Answer That’s Strikingly Clear.
Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) has played a significant role in the artificial intelligence (AI) story so far, and that’s helped supercharge revenue growth and stock performance. The company develops AI products and services, uses them to improve its own business, and offers them to customers through its Google Cloud unit.
Given high demand for AI capacity, Alphabet has been one of the key players involved in the infrastructure build-out. Alphabet, Amazon, Microsoft, and Meta Platforms together plan to spend more than $700 billion this year on the ramp-up. So, the pace of AI growth depends, to a certain degree, on these leading players.
With this in mind, investors closely watch these companies as they are well-positioned to benefit from AI growth — if the AI story continues to unfold as expected. And that brings us to the date of Oct. 28, which could represent a catalyst for Alphabet. Will the stock, which has climbed about 7% this year, soar after that date? History offers an answer that’s strikingly clear.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.