Alphabet's Gemini Integration Could Spur '20%+ Google Cloud Revenue Growth': JPMorgan
Benzinga
Published Apr 10, 2024 14:31
Updated Apr 10, 2024 15:40
Alphabet's Gemini Integration Could Spur '20%+ Google Cloud Revenue Growth': JPMorgan
Benzinga - by Surbhi Jain, .
Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), the parent company of Google, stands as a juggernaut in the technology sector, renowned for its innovation and market dominance.
Google’s diverse portfolio, including its cloud computing division, Google Cloud, has positioned it as a key player in the digital landscape.
For investors eyeing growth prospects, Google’s stock presents an enticing opportunity to tap into the company’s continued expansion and strategic initiatives.
The Google Analyst/h2 Delving into Google’s prospects, analyst Doug Anmuth from JPMorgan offers compelling insights into the company’s trajectory. With a rating of Overweight and a price target of $165, Anmuth’s bullish stance underscores confidence in Google’s ability to capitalize on emerging trends and drive sustained growth in the cloud computing and artificial intelligence sectors.
The Google Thesis /h2 Strategic Focus On Gen AI Applications And Gemini Integration Anmuth’s investment thesis on Google stock revolves around the company’s strategic focus on Gen AI applications and Gemini integration within its Cloud and Workspace offerings. According to Anmuth, Google’s recent announcements at the Google Cloud Next conference highlight its commitment to innovation and customer-centric solutions.
Anmuth believes that Google’s emphasis on Gen AI applications and Gemini integration reflects its forward-thinking approach. He remains encouraged by “Google Cloud's progress in launching Gemini & integrating it throughout Cloud & Workspace” and believes it “should support strong 20%+ Google Cloud revenue growth.” There is potential to capture market share in the rapidly evolving landscape of cloud computing and artificial intelligence, Anmuth said.
Also Read: Is Google’s AI Crawling Through Your Personal Docs And Spreadsheets? Here’s What A New Report Reveals
Key Drivers Of Future Growth Per Anmuth, two notable product announcements introduce incremental Google Cloud use cases, thereby positioning Google for significant market expansion and revenue growth in the coming years:
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Anmuth highlights Google’s broad-based customer wins and its ability to cater to businesses of all sizes and industries, further solidifying its position as a leader in the technology sector.
As Google continues to innovate and expand its presence in cloud computing and artificial intelligence, investors stand to benefit from the company’s long-term vision and strategic execution.
Read Next: Apple, Google, And Microsoft Suffer As Small Browsers Gain Market Share After This New Law Made It Easier To Switch To Rivals
Photo: Shutterstock
Latest Ratings for GOOGL
| Feb 2022 | MKM Partners | Maintains | Buy | |
| Feb 2022 | Mizuho | Maintains | Buy | |
| Feb 2022 | Piper Sandler | Maintains | Overweight |
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