Alphabet (GOOGL) Draws Bullish View from Goldman Amid AI Strategy Execution

Alphabet Inc. (NASDAQ:GOOGL) is one of the most profitable tech stocks to invest in now. On August 21, Goldman Sachs analyst Eric Sheridan reiterated a Buy rating on the stock, citing the company’s continued progress in AI and hardware integration. At its recent product event, Alphabet Inc. (NASDAQ:GOOGL) unveiled new devices such as the Pixel 10 series, Pixel Watch 4, and Pixel Buds 2A, all featuring deeper integration with the company’s technology ecosystem.

Although hardware contributes only a small portion of Alphabet Inc.’s (NASDAQ:GOOGL) overall revenue, Sheridan argued that the products demonstrate the company’s ability to compete effectively in the smartphone and wearable markets.

More importantly, he highlighted new AI-driven features such as Magic Cue and Gemini-branded generative tools, which enhance consumer experiences and strengthen Google’s positioning in AI services.

Sheridan sees these innovations as addressing investor concerns around AI monetization and believes they will serve as important growth drivers, reinforcing his positive outlook on Alphabet Inc.’s (NASDAQ:GOOGL) stock.

Alphabet Inc. (NASDAQ:GOOGL) is the parent company of Google and a pioneer in internet-related services and products, including online advertising technologies, search engines, cloud computing, software, and hardware.

While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.