Alphabet Inc. (GOOGL – Get Rating), the parent company of Google, has firmly established itself as a leading player in the ever-expanding field of artificial intelligence (AI). With its recent advancements and strategic initiatives in AI technology, GOOGL is well-positioned to harness the potential of this transformative wave.
Moreover, as the company is trading above its 50-day and 200-day moving averages of $109.41 and $100.82, indicating an uptrend, I think the stock could be an ideal buy this week.
As the realm of artificial intelligence (AI) continues to unfold, its vast array of applications across diverse sectors has captivated the attention of organizations worldwide. With the potential to revolutionize business operations and bestow a competitive edge, the adoption and investment in AI are experiencing an exponential surge.
According to a report by Fortune Business Insights, the global AI market is expected to reach $2.03 trillion by 2030, growing at a CAGR of 21.6%.
As a tech giant renowned for its relentless pursuit of innovation, GOOGL has emerged as a front-runner in the AI space, leveraging its vast resources and cutting-edge research to push the boundaries of what is possible.
Over the past three years, GOOGL’s revenue has…
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