Wells Fargo Sets 40% Upside Target for Alphabet Amid AI Spending Concerns

Wells Fargo has issued a buy rating for Alphabet, setting a price target of $387, which suggests a potential 40% increase from its current stock value of approximately $280. According to NS3.AI, Alphabet's stock, identified by the ticker GOOG, experienced a decline of over 3% on Thursday, reaching a yearly low. This drop comes as investors are increasingly focused on the company's spending in the artificial intelligence sector.