It's time to move to the sidelines on Alphabet as competition ramps up, according to Bernstein.
GOOGL YTD mountain Alphabet stock has added more than 31% this year.
"Google's aggressive push to integrate Gen AI into core search results could create a near-term air pocket on search ad pricing," he noted.
"To many investors (and sell-siders), Google's stock is akin to a warm hug," Shmulik said.
"Yet every so often Google's stock appears fairly valued just as it does today, with a balanced risk/reward and narrative that has quickly caught up to fundamentals, driving Google's stock up +40% from November lows.
Persons:
Bernstein, Mark Shmulik, Shmulik, Michael Bloom
Organizations:
UBS
Locations:
Meta