Posted 3/18/2024, 3:48:17 PM
Alphabet Stock Jumps on Report It May License AI to Apple
- Alphabet stock rallied Monday on a report it may license its AI technology, Gemini, to Apple for the iPhone
- This would be Alphabet's first big licensee for its AI services outside of Google Cloud
- The AI opportunity is vast - estimated at $2.6-$4.4 trillion annually by McKinsey
- Alphabet stock remains relatively inexpensive at 26x earnings compared to the S&P 500's 28x
- Now could be a good time to buy Alphabet stock before the "fire sale" ends
