Alphabet (GOOGL) Has a Special Relationship With Apple, Says Jim Cramer

We recently published 9 Stocks Jim Cramer Talked About.  Alphabet Inc. (NASDAQ:GOOGL) is one of the stocks Jim Cramer talked about.

Alphabet Inc. (NASDAQ:GOOGL)’s shares have gained 66% over the past year to solidify its lead as one of the largest technology companies in the world. Recently, debate has focused on the firm’s custom AI chips called TPUs. Reports have suggested that Alphabet Inc. (NASDAQ:GOOGL)’s chips offer a cost advantage to NVIDIA’s AI processors. Another product that has generated news is the firm’s AI platform Gemini. On January 7th, Canaccord Genuity raised Alphabet Inc. (NASDAQ:GOOGL)’s share price target to $390 from $330 and kept a Buy rating on the shares. The firm cited Gemini as one of the reasons it was optimistic about the technology company in the long term. Canaccord’s action followed Wolfe Research bumping Alphabet Inc. (NASDAQ:GOOGL)’s share price target to $380 from $350 on January 5th and maintaining an Outperform rating. As for Cramer, he commented about the rivalry between the firm and NVIDIA:

“It’s interesting that NVIDIA, and Alphabet, Google, are rivals. True rivals, because Google spent a lot of money and has dealt with a lot of high-bandwidth memory.

“And therefore, remember, Alphabet has a special relationship with Apple. I do believe that Gemini’s going to be along for the ride, pay them more, and Gemini’s going to be the de-facto name. It’s going to be Anthropic for business-to-business. . . .for regular search, you’re going to go to Gemini cause it’s just superior to everyone. Now ChatGPT has a new iteration coming, maybe that one will be better.”

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