Google Stock Downgraded On Views AI Changes To Search Will … – Investor’s Business Daily
Google-parent Alphabet‘s (GOOGL) transition to internet search using a generative artificial intelligence will slow advertising revenue growth, says an analyst who downgraded GOOGL stock on Monday.
Also, Google’s relationship with content publishers will undergo big changes that could impact Google stock, says UBS analyst Lloyd Walmsley.
Further, Walmsley downgraded GOOGL stock to neutral from buy. Shares fell 1.2% to near 122 in early trading on the stock market today.
“Our concern is that SGE (generative AI-based search) will take up valuable ad real estate reducing the space Google has to serve up an ad,” Walmsley said in a note to clients.
GOOGL Stock: New Search Competition
Google aims to counter Microsoft’s (MSFT) investment in artificial intelligence startup OpenAI. At the Google I/O 2023 developers event on May 10, Alphabet showcased the integration of generative AI into search, maps, Workspace, photos, cloud computing and Android devices.
At Google Marketing Live on May 23,…
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source: https://news.oneseocompany.com/2023/06/26/google-stock-downgraded-on-views-ai-changes-to-search-will-investors-business-daily_2023062646754.html
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