Google Parent Alphabet's Stock Soars To All-time High

Shares of Google genitor Alphabet (GOOGL, GOOG) surged complete 5% to adjacent astatine an all-time precocious Wednesday, aft nan tech elephantine unveiled its latest artificial intelligence (AI) exemplary pinch Gemini 2.0 and U.S. President-elect Donald Trump tapped Andrew Ferguson to lead nan Federal Trade Commission (FTC).

The prime of Ferguson has raised hopes Alphabet and different Big Tech companies could look guardant to a friendlier stance from nan FTC, aft facing regulatory unit from nan agency nether existent chair Lina Khan.

'Alphabet Remains astatine nan Leading Edge of Technology Innovation,' Analysts Say

The gains besides travel a time aft nan tech elephantine showcased its caller quantum computing spot Willow, pinch Bank of America analysts telling clients nan news shows “Alphabet remains astatine nan starring separator of exertion innovation."

“Over nan agelong term, quantum invention has nan imaginable to create a important tech moat for Alphabet," nan analysts said, though they noted commercialized uses could beryllium years away.

The analysts maintained a “buy” standing and $210 value target, representing a astir 7% premium to Wednesday's closing value of Alphabet's Class C shares astatine $196.71. 

With Wednesday's gains, shares of Alphabet person risen astir 40% successful 2024.