TLDR:
- Google parent Alphabet is seeing growth in its Search, YouTube, and Cloud businesses, with a focus on expanding its artificial intelligence capabilities.
- Alphabet is investing in AI infrastructure and global expansion, partnering with companies like Hitachi and Opera to promote AI.
Google stock is on track to form a three-weeks-tight formation and has seen strong earnings growth, with mutual funds adding shares and profit estimates looking positive.
Google parent Alphabet appears to be forming a bullish three-weeks-tight pattern as it gets poised for its next move. The company saw strength in its Search, YouTube, and Cloud businesses in the first quarter, with its cloud computing revenue growing 28%. Despite facing competition in the cloud space, Alphabet is committed to expanding its artificial intelligence capabilities. The company is investing in AI infrastructure and expanding globally, with partnerships with companies like Hitachi and Opera to promote AI. Google stock is on track to form a three-weeks-tight formation with a 178.77 buy point, and has shown strong earnings growth with a 53% increase in the first quarter. Mutual funds have been adding Google stock, and profit estimates for the future look positive. With a focus on artificial intelligence and continued growth in key business areas, Google stock is positioned well for the future.