This Artificial Intelligence (AI) Stock Has Dropped 13% in 1 Month. Here's Why It's a Buy
You might regret not getting this company's shares from the discount bin.
Overview
Is Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) run finally over? The company's shares had been performing very well, but over the past month, Alphabet has lost momentum, with its stock price declining 13%. There are several factors behind Alphabet's recent dip, but the company's prospects remain intact, making it an excellent stock to buy right now. Here's why.
Image source: The Motley Fool.
Alphabet has recently lost some key employees, including John Jumper, a leading artificial intelligence (AI) expert and Nobel laureate, who left the company to join Anthropic. On top of that, investors are increasingly worried about Alphabet's AI-related spending. The company recently announced an $80 billion equity capital raise to fund its AI ambitions. The tech leader expects capex spending -- which should be in the $180 billion to $190 billion range this year -- to rise significantly in 2027.
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Originally published at www.fool.com.