Loading... Loading... CNBC’s “Mad Money” host Jim Cramer recommended investors to keep Alphabet GOOGL GOOG stock in their portfolios on Monday, pointing to the sustained success of the company’s search business and
YouTube. What Happened : Cramer initially intended to offload some stock from the CNBC Investing Club’s Charitable Trust due to potential threats to Google’s search business from new
Artificial intelligence query systems. However, positive analyst reports on the tech behemoth assuaged his fears, reported CNBC. See Also:
Bitcoin, Ethereum, Dogecoin Rise As BTC Halving Draws Near: Analyst Says King Crypto Likely To See $300K In This Cycle “We shall sell no more for the charitable trust… It’s just got too much going for it, like nearly all the other mega caps,” Cramer declared. He underscored that Alphabet’s varied business strategies and potential for recovery justify its trillion-dollar valuation. Cramer also highlighted a Bloomberg report showcasing YouTube’s strong influence on younger demographics. The article referenced a Pew Research survey revealing that 71% of teenagers use the platform daily, surpassing TikTok’s 58% engagement rate. "You can see why any consumer product company would want to advertise there," he said. Those are prime years to reach teens; you need to be in front of them when they make their lifetime decisions on stuff like toothpaste, razors, or cereal." Why It Matters : Alphabet has been making notable strides in recent times. The tech giant is reportedly planning to integrate its AI chatbot , Gemini, into the
Google app on
Android devices, offering an alternative to the standalone Gemini app. Despite facing internal criticism and AI-related challenges , Alphabet once again secured the top position in the list of "America's Most Innovative Companies 2024." Furthermore, Alphabet is reportedly considering a bold move into the realm of online marketing software by exploring the acquisition of HubSpot Inc. HUBS , a company valued at $35 billion. Read Next: Doge In ‘New Bull Market,’ Says Crypto Trader As Meme Coin Reclaims 20-Cent Mark Amid Weekend Rally Loading... Loading...