Google Stock: Google Fends Off Microsoft Bing – Investor’s Business Daily
Alphabet (GOOGL) is the IBD Stock Of The Day as the company’s Google search engine is holding strong against Microsoft‘s (MSFT) new AI-powered Bing search engine. Also, Google stock cleared a buy point on Wednesday.
On the stock market today, Alphabet stock rose 1.5% to 121.75. Year to date, Google stock is up 38%.
In morning trades on Wednesday, Google stock broke a downtrend when it bounced off its 10-week moving average line, according to IBD MarketSmith charts. Shares also moved above their 21-day exponential moving average.
Based on IBD analysis, investors could have used Friday’s high of 121.08 as a buy point.
Plus, Google stock could have a proper base in another week.
Google ‘Holding Up Well’ Against Bing
On Wednesday, BofA Securities analyst Justin Post reiterated his buy rating on Google stock with a price target of 128.
In a note to clients, Post said Google’s search engine market share and traffic are “holding up well” in the face of increased competition from Bing. In…
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source: https://news.oneseocompany.com/2023/07/05/google-stock-google-fends-off-microsoft-bing-investors-business-daily_2023070547251.html
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