Google: Don't Fear AI Future
- Google slumped last week following an underwhelming AI chat launch.
- The company obtains all of their profits from the Google Services business focused on Google search causing the market to excessively worry about competitive threats.
- The stock trades with an EV of 10x '25 non-GAAP EPS targets even before expected efficiency gains.
Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) collapsed this week following a failed answer in a tweet launching a new conversational AI service. The market was overly dramatic on the outcome of the AI event hosted by Google, especially considering ChatGPT has several high profile failures. My investment thesis is ultra Bullish on the stock following the major dip back below $95.
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