Google and Meta Lead Big Tech's AI and Growth Rebound
• Alphabet (Google) is a leader in AI with new chatbot Gemini that outperforms OpenAI's GPT-4 and integration across Google products • Alphabet stock is trading at a P/E ratio of 23, a 30% discount to the Nasdaq index, presenting a buying opportunity • Meta Platforms is using AI to improve content relevance and ad performance on Facebook and Instagram, driving increased user engagement • Meta's cost cuts and efficiency focus in 2023 delivered a 73% jump in earnings per share • Despite huge stock gains in 2023, Meta still only trades at a P/E of 33, below the Nasdaq index, with 34% profit growth expected in 2024