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BNP Paribas Exane revised its views on two of the largest U.S. technology companies, lifting Amazon.com Inc. to Outperform from Neutral while trimming Alphabet Inc. to Neutral from Outperform. The brokerage raised its 12-month price target for Amazon to $254 from $200, implying further upside for the world’s biggest online retailer. Alphabet’s price target was cut to $172 from $213. Amazon shares gained roughly 1% in U.S. trading after the announcement. Alphabet was little changed, with investors digesting the lower rating and reduced target.
AI hype? Last year, tech companies spent $300+ billion on AI-specific data centers, but the revenues are minuscule! For example, chat bots earned only $3 billion. Perhaps more adoption is needed, since data makes AI smarter. But that’s a chicken and egg problem. https://t.co/ia10cUFi6a
The end of day spike for $GOOGL due to re-balance to state the obvious shows it is under-owned. We knew that anyway Imagine where $GOOGL will trade when sentiment changes and even if multiple doesn’t expand this stock will keep grinding up. $200 in NTM is bear case
Starting a thread of the biggest dislocations into today's close... $GOOGL: https://t.co/P7PnevNTCn
