Alphabet Shares Turn Higher After Google I/O Dev Conference
Google's recent keynote event was received positively by analysts and investors alike. As a result, the Alphabet (GOOGL) stock gained a 4% upside during Thursday's trading session.
According to analysts from Goldman Sachs, the announcement of new services, products, & features helped the company in the stock markets.
At the I/O developer conference, Google announced a lot of new features for Google Cloud, Maps, YouTube, Search, etc. Similarly, Google also announced Pixel devices powered by Android OS.
Integration Of AI Into Google's Products
According to experts, AI (Artificial Intelligence) was a major theme during Google's I/O Developer conference. It appears that Google is planning to integrate AI into its main services. Considering the attention AI is receiving all over the globe, there's no doubt that it would do a lot of good for Alphabet.
Based on the announcements made at the conference, experts believe that Google has established itself as a major force in the AI and machine-learning market. In fact, some analysts are even calling the recent conference one of the best and most substantial!
In February 2023, Google had a disappointing event that ended up costing a lot of money to the company. But after the recent event, it appears that Google has managed to redeem itself once again.
Evercore ISI, which is a prominent investment firm, also believes that the recent event was a success. According to the firm's analysts, Google has made it clear that it has enough capabilities to deploy AI into its core products.
Looking ahead, it appears that the use of AI will remain center stage for both consumers and investors. And if Google manages to develop an actual use-case of AI capabilities into its products & services, there's no doubt that it would gain immensely from that!
In fact, we already saw a small glimpse of how AI can help Google boost its share price in the stock markets.