Alphabet Inc. (GOOGL) has seen a positive shift in its global search market share, which has contributed to its stock's upward movement. BofA Global Research maintained its "Buy" rating for Alphabet, citing the successful ramp-up of AI Overviews as a key driver of increased search functionality and user engagement. Google's global search share rose by 64 basis points month-over-month to 90.0%, with its U.S. share increasing by 169 basis points. Despite the competitive landscape, with new AI entrants like ChatGPT gaining traction, Google's dominance remains largely unchallenged. BofA highlights potential positives such as increased query volume and more precise ad targeting, though regulatory pressures and competition from AI platforms pose near-term risks.
The Direxion Daily GOOGL Bull 1.5X Shares (GGLL) ETF rose 1.27% to $39.72 at 10:00 AM on Friday, December 6.