A Warning to Anyone Betting Against This AI Stock Poised to Soar – The Motley Fool
The ChatGPT buzz is starting to quiet down already and Alphabet is starting to show its longer-term endurance.
What happens when the hype subsides? That is what investors should ask themselves about Google’s parent company Alphabet (GOOG 0.42%) (GOOGL 0.41%).
There is little doubt that the company was caught with its pants down when OpenAI introduced ChatGPT. Microsoft took advantage, investing billions to bring the large language model (LLM) chatbot to its Bing search engine. Many companies have tried and failed to hedge into Google Search’s dominance over the years, but this is a real threat … right?
But with a 10% month-over-month traffic drop in June, users spent less time on ChatGPT’s site on average. And iPhone downloads are down a startling 38%. So the ChatGPT buzz is quieting already.
Meanwhile, Statista’s latest report shows Google Search gaining ground in the last few months, holding 85.5% of the desktop market to Bing’s 8.2%. So Google is much tougher to dethrone than…
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