Here’s Why Alphabet Is Leading the Stock Market Lower on Monday – The Motley Fool
The rise of chat-based artificial intelligence could disrupt the way people have traditionally interfaced with the world wide web.
What happened
It’s not a great day for most stocks. But it’s a markedly worse day for Alphabet (GOOG -3.19%) (GOOGL -3.27%) shareholders. While the Nasdaq Composite (^IXIC -1.16%) and the S&P 500 (^GSPC -0.45%) are both a bit in the red heading into Monday’s closing bell, as of 3:39 p.m. ET, data from S&P Global Market Intelligence indicates Alphabet stock is down more than 3% in response to a surprising downgrade.
So what
Blame UBS, mostly. The bank dialed back its earlier buy call to a mere neutral stance, with analyst Lloyd Walmsley explaining: “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.”
It’s a legitimate concern. The advent of artificial intelligence clearly threatens to disrupt the web even if investors don’t yet know exactly how. Alphabet’s…
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