Why Alphabet Stock Just Popped
Key Points
Alphabet just made available an app that will put Gemini AI on your PC.
The app activates with a simple keyboard shortcut.
- 10 stocks we like better than Alphabet ›
Google search on your laptop. YouTube on your TV. Chrome on your phone. It often feels -- and probably accurately so -- like tech giant Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and its products are everywhere. Expect that feeling to get even more common in the age of AI.
In fact, expect that feeling to get more common right now.
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Image source: Alphabet.
What's Google up to this week?
In an announcement that dropped just mid-day Thursday, Alphabet announced a new software offering that will put Google Gemini artificial intelligence right on your PC. Download the "Gemini for desktop" app, install it, and any time you have a need for it going forward, you can hit "Alt + Space" on your personal computer (Option + Space if you use a Mac).
Use that keyboard shortcut, and up will pop "Gemini Spark, your 24/7 personal AI agent," to answer whatever questions you might have for it -- much faster than logging onto ChatGPT or Anthropic, for example. The app can answer questions, verify facts, or draft text, says Google, and even build images or construct videos.
The announcement seems to be nudging Alphabet's stock price higher today. As of 2:45 p.m. ET, it's up about 1.7%.
What's next for Alphabet stock?
Investors seem to be warming to Alphabet's AI-everywhere strategy. Although the stock price itself isn't so very high -- less than 17x earnings currently -- Alphabet shares are up 37% over the past year, which is about twice the S&P 500's gains.
That seems a fair price for a stock expected to grow earnings 15% annually over the next five years, and even paying a tiny 0.3% dividend yield. If Alphabet's free cash flow weren't so atrocious, I might even be tempted to buy the stock!
Should you buy stock in Alphabet right now?
Before you buy stock in Alphabet, consider this:
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.
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