The moves come after a muted but important day on the Street.
Even after Apple's sweeping AI announcements, Google remains one of Evercore ISI's favorite AI picks of the Big Tech stack. Analyst Mark Mahaney said he became more constructive on Google's 'competitive position' in core search and generative AI search after running a 1,000-respondent U.S. proprietary survey, which ran ahead of Apple's WWDC event on Monday and asked about consumers' generative AI search adoption and usage.
When it comes to generative AI search, the survey found that Google comes second to ChatGPT, however. Mahaney reiterated his outperform rating on Google and raised his price target to $225, which implies about 28.6% upside from its latest close. Google remains one of the firm's top picks in large-cap tech and internet. 'Google's competitive position is as strong as ever.
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