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Should you buy Google stock after the Gemini 1.5 Flash announcement?

By: Invezz
buy google stock after gemini 1.5 flash news

Alphabet Inc (NASDAQ: GOOGL) has gained some 30% since its year-to-date low in early March but a KeyBanc analyst is convinced it’s not done pleasing its shareholders just yet.

Google stock could climb to $200

Justin Patterson continues to rate $GOOGL at “buy” and sees upside in it to $200 which translates to another 18% upside from here.

Alphabet announced Gemini 1.5 Flash – its most powerful AI model at its developer conference or Google I/O on Tuesday.

The annual event confirms that Google stock is well-positioned to benefit from rapid growth in artificial intelligence, the KeyBanc analyst told clients in a research note today.

Shares of the tech titan do also pay a dividend yield of 0.47% which makes up for an additional reason to have it in your investment portfolio.

Watch here: https://www.youtube.com/embed/UiZLFQQ7tfw?feature=oembedBank of America is also bullish on $GOOGL

Note that Alphabet Inc did also roll out an enhanced Gemini 1.5 Pro on Tuesday.

All in all, what the announcements indicate is that $GOOGL has the ability to capitalise on AI to improve its products and unlock new streams of revenue.

Introducing Gemini 1.5 Flash ⚡

It’s a lighter-weight model, optimized for tasks where low latency and cost matter most. Starting today, developers can use it with up to 1 million tokens in Google AI Studio and Vertex AI. #GoogleIO pic.twitter.com/I1adecF9UT

— Google (@Google) May 14, 2024

It is also worth mentioning that KeyBanc is not the only investment firm that’s bullish on Google stock. Justin Post – a Bank of America analyst also reiterated his “buy” rating on the tech stock this week.

The bullish calls on Google shares arrive shortly after the management reported a solid Q1 and announced the company’s first-ever quarterly dividend of 20 cents per share (find out more).

The post Should you buy Google stock after the Gemini 1.5 Flash announcement? appeared first on Invezz

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