Alphabet And Microsoft Fail To Get An Initial AI Boost – Barchart
Alphabet (GOOGL) and Microsoft (MSFT) are up less than +5% this year, below the 10% gain for the Nasdaq 100 Stock Index ($IUXX) (QQQ) and the 60% surge in Nvidia (NVDA). While Nvidia and other lesser-known artificial intelligence (AI) stocks have soared this year on speculation AI will boost their business models, Alphabet and Microsoft have underperformed.
While the underperformance of Alphabet and Microsoft can be partly blamed on the jump in interest rates from the Federal Reserve’s aggressive rate hike campaign to combat inflation, some technology stocks will be slow to see payback from their investments in AI. Investment Partners Asset Management said, “if you’re only buying Alphabet and Microsoft for AI, you might be disappointed by how slowly it rolls out and translates to revenue growth.”
Stocks like Nvidia, which will see an immediate demand for its chips needed for complex AI computing tasks stand to gain right away from AI. However, Alphabet and Microsoft are focusing on…
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source: https://news.oneseocompany.com/2023/03/03/alphabet-and-microsoft-fail-to-get-an-initial-ai-boost-barchart_2023030341428.html
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