Alphabet Inc. (GOOGL) saw its stock decline by 0.63% to close at $195.42 on December 17, 2024, amid a day of heightened trading activity with volume reaching 42,146,409 shares, significantly above the average. The stock opened at $197.02 and reached a high of $201.42 before retreating to a low of $194.98. The decline comes despite positive news earlier in the day about Waymo, Alphabet's self-driving vehicle unit, selecting Tokyo for its first international robotaxi tests, which initially boosted investor sentiment. However, the broader market environment, marked by a cautious stance ahead of the Federal Reserve's interest rate decision, weighed on large-cap tech stocks, including Alphabet.
Additionally, skepticism surrounding Alphabet's recent quantum computing advancements may have contributed to the stock's decline. While the introduction of the Willow quantum chip was initially met with enthusiasm, some analysts have expressed caution, noting that the technology is still far from commercial viability. This tempered excitement, combined with the overall market downturn, likely influenced Alphabet's stock performance.