30 May 2024

You may have heard that more and more people are turning away from Google as their search provider and choosing Microsoft’s Bing. These rumors began to appear after Google’s Bard/Gemini released some rather embarrassing AI-generated images that caused the stock to plummet.

Before the controversy, GOOGL was holding at $144 (USD), but within a week the stock tumbled -7.64% to $133. Did this mark the beginning of the end? Is it the end for Google search?

Google search is far from ending. In 2024, Google’s share of the global search engine market was 91.5%, a slight increase from 2023, where Google held around 81.95% of the market.

As for GOOGL, after the brief bear market, the bulls took over and the stock price rocketed to $172, an all-time high for Alphabet Inc. Google is not only surviving the embarrassment of Q1, it continues to grow, and it has big plans for the future. Let’s explore Google and the potential trading opportunities on the horizon.

What Google is planning

Despite the pessimistic rumors, Google's influence on our daily lives remains undeniable. However, the tech landscape is slowly shifting, and Google's dominance is being challenged. Alphabet Inc. CEO Sundar Pichai's strategy revolves around integrating AI into every facet of Google's operations, a vision he has championed since 2016.

Pichai emphasizes the importance of AI in Google's future. He uses AI in personal anecdotes, highlighting its practical benefits, such as using Google Lens for homework assistance. His approach underscores Google's commitment to making AI an integral part of everyday life.

Pichai's leadership is characterized by his ability to focus on long-term goals amid industry upheavals. Regular interactions with Google co-founders Larry Page and Sergey Brin help him maintain a broad perspective essential for navigating a company of Google's scale.