Short interest for Alphabet gives investors a sense of the degree to which investors are betting on the decline of Alphabet's stock. Short interest data is updated every two weeks.

Alphabet Stock (NASDAQ:GOOGL), Short Interest Report

Alphabet

Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary. Google services account for nearly 90% of Alphabet's revenue, of which more than 85% is from online ads. Other Google services revenue is from sales of apps and content on Google Play and YouTube, as well as sales of hardware such as Chromebooks, the Pixel smartphone, and smart home products, which include Nest and Google Home. Google's cloud computing offerings account for a bit more than 10% of total Alphabet revenue. Alphabet's moonshot investments are in its other bets segment, where it bets on technology to enhance health (Verily), provide faster internet access (Google Fiber), enable self-driving cars (Waymo), and more.

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On Tuesday, Alibaba Group Holding Limited (NYSE: BABA) reported its net profit took quite a dive during the fiscal fourth quarter, after already having a hard time throughout 2023 as it underwent its largest-ever corporate restructuring.

Tanking Profit Overshadowed Alibaba&#39;s AI Growth And Reignited Domestic E-Commerce

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Taiwan Semi Flags High Costs of ASML&#39;s Latest Chip Machines

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Google slipped in a pair prototype version of augmented reality (AR) glasses at the Google I/O 2024 conference, sparking speculation about a potential revival of the once-abandoned Google Glass project.

Google Glass Making A Comeback? New Prototype AR Glasses Make A Cameo Appearance At I/O 2024

Alphabet Inc

Public Investment Fund Dissolves Share Stake In Alphabet

Morgan Stanley analyst Brian Nowak maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Overweight and maintains $195 price target.

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Morgan Stanley Maintains Overweight on Alphabet, Maintains $195 Price Target

On Tuesday, Alibaba Group Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) reported its net profit took quite a dive during the fiscal fourth quarter, after already having a hard time throughout 2023 as it underwent its largest-ever corporate restructuring.
<h3>Fourth Fiscal Quarter Highlights</h3>
For the quarter ended on March 31st, Alibaba posted revenue&nbsp;grew 7% YoY to&nbsp;221.9 billion yuan, which amounts&nbsp;$30.7 billion, as it boosted domestic e-commerce sales.&nbsp;But, Alibaba reported its net income attributable to ordinary shareholders&nbsp;tanked as much as&nbsp;86%&nbsp;YoY to&nbsp;3.27&nbsp;billion yuan, which is about&nbsp;$452 million, attributing the poor result to&nbsp;a net loss from investments in publicly-traded companies, compared to last year&rsquo;s quarter when it made a net gain.&nbsp;
Early signs of reignited e-commerce growth.
Although Alibaba is still grappling with cautious consumers in China amid the economic slowdown, its core e-commerce business has improved due to its focus on low-cost goods.&nbsp;Taobao and Tmall division&nbsp;that represent its e-commerce segment reported 4% YoY growth to&nbsp;93.2 billion yuan, accelerating from previous quarter&rsquo;s&nbsp;2% growth.
Customer management revenue&nbsp;which consists of&nbsp;sales received from services such as marketing&nbsp;that merchants get from Alibaba, reported&nbsp;5%&nbsp;YoY growth, also improving from being flat in the previous quarter. International commerce business&nbsp;grew&nbsp;45%&nbsp;YoY&nbsp;27.4 billion yuan.
Cloud growth fails to impress, but AI rose to the task.
The cloud computing division is having a hard time to shine. Last year, Alibaba decided&nbsp;not proceed with the spinoff&nbsp;of the division that competes with Microsoft Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) Azure, Amazon.com Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) AWS and Alphabet (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>)(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>)-owned Google Cloud. For the reported quarter, Cloud computing brought in&nbsp;25.6 billion yuan&nbsp;to the revenue table, posting the same growth rate of&nbsp;3%&nbsp;YoY from the previous quarter.&nbsp;
However,&nbsp;AI-related revenue&nbsp;reported a&nbsp;triple-digit&nbsp;YoY&nbsp;growth.&nbsp;AI-revenue came from&nbsp;various sectors, including&nbsp;foundational model companies, internet companies,&nbsp;financial services and&nbsp;the&nbsp;automotive industry.&nbsp;
<h3>A Big Week For Global AI Development</h3>
On Monday, Microsoft-backed OpenAI launched its new AI model, GPT-4o. Through a livestreamed event, Microsoft-backed OpenAI demonstrated its latest effort of expanding the use of its chatbot and improving its capabilities as it made a significant step when it comes to ease of use. Microsoft-backed Open AI demonstrated the capabilities of the new model that is able to even perceive the user&rsquo;s emotion,&nbsp;help calm a user down before making a public speech as well as read a story in a different tone or even&nbsp;sing it. OpenAI also touted the fact the new model can act as a translator even in audio mode. Moreover, by solving&nbsp;math equations and helping to&nbsp;write codes, GPT-4o&nbsp;&nbsp;is a strong contender to&nbsp;Microsoft-made&nbsp;GitHub Copilot.
All in all, Alibaba did report its profit plummeted, but its core business as well as the promising AI segment are growing, both of which are the main heroes of its storyline and future prospects.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Tanking Profit Overshadowed Alibaba's AI Growth And Reignited Domestic E-Commerce

BMO Capital analyst Brian Pitz reiterates Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Outperform and maintains $215 price target.

Reiteration

BMO Capital Reiterates Outperform on Alphabet, Maintains $215 Price Target

JMP Securities analyst Andrew Boone reiterates Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Market Outperform and maintains $200 price target.

JMP Securities Reiterates Market Outperform on Alphabet, Maintains $200 Price Target

Taiwan Semiconductor Manufacturing Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), one of&nbsp;ASML Holding NV&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) significant clients, has expressed concerns about the high costs of ASML&#8217;s new advanced chip machines.&nbsp;
At a technology symposium in Amsterdam, TSMC Senior Vice President Kevin Zhang remarked on the sticker price of the high-NA extreme ultraviolet system, which can imprint lines as thin as 8 nanometers and costs €350 million ($380 million) each, Bloomberg&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-05-14/tsmc-says-asml-s-most-advanced-chip-machines-are-too-expensive?srnd=technology-vp&amp;sref=TBDibEcD" target="_blank" rel="noreferrer noopener">reports</a>.&nbsp;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15053944/newplot-7.png" alt="" class="wp-image-338881" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15053944/newplot-7.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15053944/newplot-7-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/economics/macro-economic-events/24/05/38813115/biden-targets-chinese-imports-with-huge-tariff-hikes-ahead-of-election" rel="noreferrer noopener">Biden Targets Chinese Imports With Huge Tariff Hikes Ahead of Election</a>
Despite appreciating the capabilities of the high-NA EUV, Zhang highlighted the economic considerations, stating that TSMC&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38429949/taiwan-semi-sets-2026-launch-for-a16-chip-technology-aiming-to-outpace-intel-in-speed" rel="noreferrer noopener">upcoming A16 node technology</a>, due in late 2026, will continue to use older EUV technology instead of the new high-NA EUV machines.&nbsp;
He noted the rising costs of factory operations as a broader challenge for the industry, with increasing expenses for construction, tools, electricity, and raw materials.
Meanwhile, TSMC is looking to build its $11 billion&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/05/38824316/taiwan-semi-set-to-build-11b-chip-plant-in-germany-aiming-for-2027-production-start" rel="noreferrer noopener">European chip plant</a>&nbsp;in Dresden, Germany, backed by EU and German support. The plant will produce&nbsp;22-nm car chips and has plans for advanced tech expansions.
TSMC reported&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38559741/third-points-ai-focus-pays-off-as-investments-in-alphabet-and-tsmc-propel-q1-growth" rel="noreferrer noopener">first-quarter revenue</a>&nbsp;growth of&nbsp;16.5% to $18.87 billion, surpassing the Street consensus estimate of $18.40 billion. Advanced technologies comprised 65% of TSMC&#8217;s total revenue.&nbsp;
Reportedly, big techs led by&nbsp;Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>),&nbsp;Meta Platforms Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) committed over $32 billion in AI infrastructure in the first quarter alone.
Price Actions: TSM shares are trading higher by 0.37% at $152.50 premarket at the last check on Wednesday. ASML shares traded higher by 0.23% at $917.11.
Photo via ASML

Taiwan Semi Flags High Costs of ASML's Latest Chip Machines

Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google slipped in a pair prototype version of augmented reality (AR) glasses at the <a href="https://www.benzinga.com/news/24/05/38826439/at-google-io-2024-sundar-pichai-and-team-announces-new-gemini-models-project-astra-ai-fraud-protecti">Google I/O 2024</a> conference, sparking speculation about a potential revival of the once-abandoned Google Glass project.
What Happened: The new prototype was revealed in a brief moment during a demo video for Project Astra. The glasses, with a distinctly curved nose bridge, were worn by a Google employee who then used them to ask questions and receive hands-free answers.
Despite the lack of official confirmation from Google, the company has not made any attempts to conceal the new prototype. The video&#8217;s YouTube description explicitly states that the second part of the demo is being run on &#8220;a prototype glasses device.&#8221;
Google did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga's</a> request for comment.
See Also: <a href="https://www.benzinga.com/news/24/05/38837368/will-google-sue-openai-for-violating-youtubes-terms-of-service-sundar-pichai-says-its-a-question-for">Will Google Sue OpenAI For Violating YouTube&#8217;s Terms Of Service? Sundar Pichai Says &#8216;It&#8217;s A Question&#8217; For Sam Altman To Answer</a>
The new glasses bear a resemblance to the Project Iris prototypes, which were previously thought to be defunct. This unexpected development has led to speculation about Google&#8217;s renewed interest in AR technology, especially in light of the success of Meta&#8217;s Ray-Ban smart glasses.
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Google&#8217;s previous AR prototypes had advanced to a stage where the company was planning to begin public testing in mid-2022. The emergence of these new glasses suggests that Google is still actively pursuing its AR ambitions.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The resurgence of Google&#8217;s AR glasses comes at a time when the AR market is heating up. Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37867992/jim-cramer-says-investors-will-focus-on-apples-vision-pro-and-nvidia-omniverse-inte">Vision Pro has dominated the headlines</a> since its February launch.
Researchers at Stanford University have <a href="https://www.benzinga.com/news/24/05/38760802/stanford-researchers-unveil-ar-glasses-prototype-resembling-everyday-pair-of-glasses-contrasting-bul">recently come up with</a> a prototype of AR glasses that look almost like regular ones.
Price Action: Alphabet Inc Class C shares were down 0.09% in premarket trading on Wednesday, after closing at $171.93 on Tuesday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38809935/openai-just-dropped-gpt-4o-and-these-10-examples-show-it-could-completely-change-ai-chatbot-game?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI Just Dropped GPT-4o And These 10 Examples Show It Could Completely Change AI Chatbot Game</a>
Photo courtesy: Google

Stifel analyst Scott Devitt maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Buy and maintains $196 price target.

Stifel Maintains Buy on Alphabet, Maintains $196 Price Target

Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Sundar Pichai thinks that key AI rival, Sam Altman-led OpenAI, should be the one to answer if it violated YouTube's terms of service after it allegedly scraped over a million hours of videos to <a href="https://www.benzinga.com/news/24/02/37177366/openais-sam-altman-extremely-focused-on-making-agi-after-sora-ai-models-impressive-debut">train its AI model, Sora</a>.
What Happened: In an interview with <a href="https://www.cnbc.com/video/2024/05/14/alphabet-ceo-sundar-pichai-we-can-do-google-search-a-lot-better-with-generative-ai.html">CNBC</a>, Pichai was asked whether Google would consider taking legal action against Microsoft Corp.-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI for allegedly violating its terms of service by using a large amount of YouTube data to train its AI model.
Pichai responded, &#8220;I think it&#8217;s a question for them to answer. I don&#8217;t have anything to add. We do have clear terms of service."
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
"We engage with companies and make sure they understand our terms of service. And we will sort it out," he added.
When asked if Google was taking any steps to investigate whether OpenAI had breached its terms of service, Pichai said, &#8220;We have processes to do that. I&#8217;m not exactly familiar.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/05/38826439/at-google-io-2024-sundar-pichai-and-team-announces-new-gemini-models-project-astra-ai-fraud-protecti">At Google I/O 2024, Sundar Pichai And Team Announce New Gemini Models, Project Astra, AI Fraud Protection And More</a>
Why It Matters: The allegations against OpenAI stem from the use of over a million hours of YouTube videos to train its new video generation model, Sora.
In a previous interview, OpenAI&#8217;s CTO <a href="https://www.benzinga.com/news/24/03/37704187/is-openais-viral-ai-video-generator-sora-trained-on-youtube-and-instagram-cto-mira-murati-is-not-sur">Mira Murati refused to confirm</a> whether the lab used public videos from platforms of rival companies like Google and Meta Platforms Inc. to train Sora, leading to accusations of violating data protection laws.
<a href="https://www.benzinga.com/news/24/04/38104283/youtube-ceo-unsure-but-warns-clear-violation-if-openai-used-creators-hard-work-to-train-sora">The allegations</a> were further fueled by YouTube CEO Neal Mohan, who suggested that if OpenAI used YouTube videos to train Sora, it would be a &#8220;clear violation&#8221; of the platform&#8217;s policies.
OpenAI&#8217;s Sora has been under scrutiny since its debut, with <a href="https://www.benzinga.com/news/24/02/37209690/openai-soras-weaknesses-exposed-shortly-after-high-profile-debut-cat-sprouts-extra-leg-humans-arm-go">critics pointing out</a> several weaknesses in the AI model. If Google decides to pursue legal action against OpenAI, it could have implications for the future of AI development and data usage.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38836944/meet-jakub-pachocki-openais-new-chief-scientist-following-ilya-sutskevers-exit-sam-altman-calls-him">Meet Jakub Pachocki, OpenAI&#8217;s New Chief Scientist After Ilya Sutskever&#8217;s Exit: Sam Altman Hails Him As &#8216;One Of The Greatest Minds Of Our Generation&#8217;</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.
Photo courtesy: World Economic Forum on Flickr

Will Google Sue OpenAI For Violating YouTube's Terms Of Service? Sundar Pichai Says 'It's A Question' For Sam Altman To Answer

YouTube has announced that it will be blocking access to specific videos, following a Hong Kong court order.
What Happened: YouTube, a subsidiary of Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), will be restricting access to 32 video links in Hong Kong, as per a court ruling. The videos contain content that has been deemed inappropriate by the Hong Kong government, reported Reuters.
The prohibited content includes a protest anthem called &#8220;Glory to Hong Kong,&#8221; which the court believes could be used by dissidents to incite secession.
YouTube expressed its disappointment with the court&#8217;s decision, stating that it could raise doubts about Hong Kong&#8217;s commitment to fostering a digital economy and maintaining a business-friendly environment. The company also mentioned that it is considering its options for an appeal.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38818809/meme-stock-surge-bothers-former-sec-chair-as-gamestop-amc-shares-rise-nearly-80-on-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meme Stock Surge &#8216;Bothers&#8217; Former SEC Chair As GameStop, AMC Shares Rise Nearly 80% On Tuesday: &#8216;A Lot Closer To Gambling…Certainly Not Investing&#8217;</a>
The ban will be implemented immediately for viewers in Hong Kong, and the affected videos will eventually be removed from Google Search in the region.
Why It Matters: This move by YouTube is part of a larger trend of tech companies facing challenges related to content censorship and free speech. In April, Elon Musk engaged in a <a href="https://www.benzinga.com/markets/equities/24/04/38477389/elon-musk-take-fight-for-free-speech-abroad-feuds-with-australia-and-brazil-over-content-restric">free speech debate</a> with the governments of Brazil and Australia over their content restrictions. Critics argued that Musk was empowering extremists by selectively challenging cases while complying elsewhere.
Meanwhile, the proposed TikTok ban bill in the U.S. has raised concerns about the potential infringement on the <a href="https://www.benzinga.com/news/24/04/38353060/us-tiktok-ban-bill-would-trample-on-free-speech-rights-of-170m-americans-says-social-media-giant">free speech rights</a> of American users. TikTok has criticized the bill, stating that it would trample the free speech rights of 170 million Americans.
Read Next: <a href="https://www.benzinga.com/insights/options/24/05/38791263/check-out-what-whales-are-doing-with-pltr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Check Out What Whales Are Doing With PLTR</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Google To Comply With Court Order Banning Protest Anthem That Infuriated China  — 'Glory To Hong Kong' To Be Taken Down From YouTube

Google&#8216;s parent company, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), is making significant strides in artificial intelligence, according to a top analyst.
What Happened: Gene Munster, a tech analyst at Deepwater Asset Management, shared his insights on <a href="https://www.benzinga.com/news/24/05/38826439/at-google-io-2024-sundar-pichai-and-team-announces-new-gemini-models-project-astra-ai-fraud-protecti">Google&#8217;s I/O 2024</a> keynote in a recent post on X. Munster highlighted three key takeaways from the event.
Firstly, Munster noted that Google is approximately six months behind OpenAI in terms of AI development, but is still about five years ahead of the rest of the industry. He observed that Google&#8217;s AI progress is evident in its generative and agentic AI technologies. 
He wrote, &#8220;They&#8217;re about 6 months behind OpenAI and about 5 years ahead of everyone else.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/05/38806678/elon-musk-shrugs-off-openais-latest-announcement-after-x-user-says-that-99-of-the-economy-will-be-ai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Shrugs Off OpenAI&#8217;s Latest Announcement After X User Says That 99% Of The Economy Will Be AI Chatbots Talking To Each Other: &#8216;Not At This Ridiculously Slow Bit Rate&#8217;</a>
Secondly, Munster pointed out that Google is set to roll out its AI, Gemini, across its entire product lineup, including Search, Photos, Workplace, Gmail, Android, and cameras. This move aligns with Google&#8217;s 2017 declaration of becoming an AI-first company.
Lastly, Munster addressed the potential impact of generative search on Google&#8217;s advertising business. He mentioned that Google is introducing AI Overview, a revamped version of the Search Generative Experience, to all U.S. Google Search users. Despite this significant rollout, Munster noted that Google has not provided specific details on how it plans to monetize this feature.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Three takeaways from the <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> I/O Keynote: 1) They&#39;re about 6 months behind OpenAI and about 5 years ahead of everyone else. What they showed today had all the markings of transformation but most were recorded demos versus OpenAI which showed live demos. The bottom line is…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1790490989523529993?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
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Why It Matters: The I/O Keynote follows a series of significant developments at Google. Just a day before the I/O Keynote, Munster had predicted that OpenAI could pose a significant challenge to <a href="https://www.benzinga.com/news/24/05/38806462/googles-search-business-could-be-challenged-by-openai-says-gene-munster-its-a-function-of-time">Google&#8217;s search business</a>. Despite this, the I/O Keynote suggests that Google is making substantial progress in the AI space, potentially strengthening its position against OpenAI.
Moreover, the I/O Keynote also aligns with the expectations of analysts like Justin Patterson who anticipated that the event would reinforce Alphabet&#8217;s meaningful scale and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38825276/google-io-2024-to-spotlight-ai-innovations-and-new-monetization-opportunities-analy">create new monetization opportunities</a> through AI innovations. The widespread rollout of Gemini and the AI Overview feature are in line with this expectation, indicating that Google is actively pursuing new monetization strategies.
Read Next: <a href="https://www.benzinga.com/news/24/05/38689467/elon-musk-isnt-sure-apples-showed-its-entire-30b-r-d-prowess-with-new-ipads-maybe-they-have-some-sec?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Isn&#8217;t Sure If Apple Showed Its Entire $30B R&amp;D Prowess With New iPads: &#8216;Maybe They Have Some Secret Products…&#8217;</a>
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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Equities

Markets

Google Is 6 Months Behind ChatGPT-Parent OpenAI In Artificial Intelligence But 'About 5 Years Ahead Of Everyone Else,' Says Gene Munster

Video-sharing platform Rumble Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) reported first-quarter financial results after the <a href="https://www.benzinga.com/earnings">market close Tuesday</a>.
Here are the key highlights.
Rumble&#8217;s Q1 Report: Rumble reported first-quarter revenue of $17.7 million, up 1% year-over-year. The revenue total missed a Street consensus estimate of $18.3 million, according to <a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348">data from Benzinga Pro.</a>
The company reported a loss of 21 cents per share for the first quarter, missing a Street consensus estimate of a loss of 19 cents per share.
Rumble had 50 million average global monthly active users (MAUs) in the first quarter, making it the ninth consecutive quarter of 40 million or more average global MAUs on the platform. The figure was down from 67 million global MAUs in the fourth quarter. A total of 35 million MAUs were based in the United States and Canada in the quarter. 
The average minutes watched per month totaled 8.6 billion in the first quarter, down from 10.5 billion in the fourth quarter.
Rumble said it completed its "foundational product portfolio" with Rumble Video, Rumble Advertising Center, Rumble Studio and Rumble Cloud.
"Most impressive during this first quarter was our team's diligent focus on the execution to continue building our foundation – Rumble's portfolio of four captive products that are fully functional revenue drivers," Rumble CEO Chris Pavlovski said.
The company ended the first quarter with $183.8 million in cash.
Related Link: <a href="https://www.benzinga.com/trading-ideas/previews/24/05/38801517/rumble-q1-earnings-preview-analyst-estimates-cloud-advertising-platform-monetization-effor">Rumble Q1 Earnings Preview: Analyst Estimates, Cloud &amp; Advertising Platform Monetization Efforts</a>
What's Next For Rumble: The company announced a strategic partnership with Barstool Sports that will include the full content library of Barstool Sports creators. Rumble Cloud services will be used to support Barstool in a mutual advertising deal.
Rumble also highlighted that it filed a second antitrust lawsuit against Google, a unit of Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>). The company accused Google of a monopoly of the online advertising market and is seeking damages of $1 billion. This is a separate lawsuit from one filed in January 2021 and is expected to go to trial in May 2025.
Rumble said it will begin reporting several new metrics later this year including average revenue per user.
The company is guiding for second-quarter revenue to increase from the first quarter. The company sees its breakeven occurring in 2025.
"With the appropriate user base in place for monetization, we plan on shifting focus to a new metric to closely measure the monetization progress with the planned introduction of ARPU later this year," Pavlovski said. 
"Our management team is focused on providing transparency to the investment community to help evaluate Rumble's performance, and we believe this will be best demonstrated through ARPU."
RUM Price Action: Rumble shares are down 2.94% to $6.94 in after-hours trading Tuesday versus a 52-week trading range of $3.33 to $11.25.
Read Next: <a href="https://www.benzinga.com/news/24/05/38807076/trump-media-firms-tech-ad-partner-rumble-sues-google-for-1b-over-alleged-ad-monopoly">Trump Media Firm&#8217;s Tech-Ad Partner Rumble Sues Google For $1B Over Alleged Ad Monopoly</a>
Photo via Shutterstock.

Earnings

Guidance

Movers

Trading Ideas

Rumble Q1 Earnings Highlights: Revenue Miss, EPS Miss, Lawsuit Filed Against Google

This lawsuit is separate and distinct from the self-preferencing lawsuit that was filed in January 2021, which remains in discovery with trial scheduled for May 2025.

Legal

Rumble Says Filed Second Antitrust Lawsuit On May 13, 2024, Against Google Based On Google's Monopolization Of Online Advertising Market, With Damages Estimated In Excess Of $1B (Before Trebling)

Alphabet Inc.'s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)&nbsp;Google&nbsp;today made several announcements around Gemini and its upcoming AI-powered features at its annual I/O developer conference.
What Happened: A year after announcing Gemini, Sundar Pichai-led tech giant revealed that over one and half million developers are using Gemini to build and debug code, get insights and build AI applications
AI Overviews:&nbsp;AI Overviews, a revamped version of Search Generative Experiences will be launched starting today in the United States. AI Overviews has specifically been designed for complex questions that may require multi-step reasoning.
This can be used to perform several tasks such as creating diet plans, organizing trips&nbsp;and&nbsp;more.
AI Overviews will also enable you to use videos to ask questions, be it for troubleshooting something or learning about something&nbsp;that is&nbsp;in front of you.
See Also:<a target="_blank" href="https://www.benzinga.com/news/24/05/38808197/despite-microsofts-13b-funding-openai-snubs-top-investor-launches-chatgpt-app-for-apple-macs-ahead-o" rel="noreferrer noopener">&nbsp;Despite&nbsp;Microsoft&#8217;s&nbsp;$13B Funding, OpenAI Snubs Top Investor: Launches ChatGPT App For Apple Macs Ahead Of&nbsp;Windows</a>
Google Photos:&nbsp;Google Photos is getting a new feature, Ask Photos. The Ask Photos feature will allow users to enter a question such as&nbsp;"What's my license plate&nbsp;number"&nbsp;and&nbsp;Google Photos will search in your photos and library and share the answer&nbsp;with you.
Google claimed that six billion photos and videos each day are uploaded on Google Photos each day. Gemini can even create summaries and create a package containing photos and videos.
Ask Photos will be rolled out this summer, with more features&nbsp;being added&nbsp;later.
Google Workspace:&nbsp;Gemini&nbsp;will now be able to&nbsp;summarize your emails and create highlights from meetings recorded on Google Meet.&nbsp;It will also allow you&nbsp;to quickly draft&nbsp;replies for emails&nbsp;using a prompt.
Subscribe to the<a target="_blank" href="https://bztechtrends.beehiiv.com/subscribe" rel="noreferrer noopener">&nbsp;Benzinga Tech Trends newsletter</a>&nbsp;to&nbsp;get&nbsp;all the latest tech developments&nbsp;delivered&nbsp;to your inbox.
Audio Overview:&nbsp;NotebookLM has received a new feature, Audio Overview, which allows you to use files to create a personalized audio guide using the inputs. The Audio Overview feature will also&nbsp;allow&nbsp;the users to pause the guide and ask the AI questions&nbsp;to better understand the topic.
AI Agents:&nbsp;Google also revealed that it is working on making AI more helpful for users. Users&nbsp;will be able to&nbsp;plan their travel, find receipts, search for their phone&nbsp;and&nbsp;even arrange product returns easily.
New Gemini Models:&nbsp;Gemini 1.5 Pro and Flash are now accessible worldwide, spanning&nbsp;more than&nbsp;200 countries and territories. The pricing&nbsp;is established&nbsp;at $7 for Gemini 1.5 Pro, $3.50 for a maximum of 128K tokens, and Flash&nbsp;is offered&nbsp;at $0.35 for 1 million tokens. Gemini 1.5 Flash is a lightweight model when compared to Gemini Pro. It has&nbsp;been designed&nbsp;to be cost-efficient and fast.
Project Astra:&nbsp;Google DeepMind CEO Demis Hassabis announced Project Astra, a universal AI agent for everyday life. Hassabis claims this is why Gemini will be multimodal as it will enable it to be naturally conversational. According to him, the conversations will feel more natural with Astra.
Music AI Sandbox:&nbsp;Google has also announced a generative music model, the Music AI Sandbox, which has reportedly been developed with songwriters, musicians&nbsp;and&nbsp;producers.
Veo:&nbsp;After generative music, Google has announced Veo, a generative video model, that can create Full HD videos in different cinematic styles using text, image&nbsp;and&nbsp;video prompts. You can also use Veo to further edit the videos using additional prompts. Veo can be used in VideoFX, allowing creators and editors a new way of making videos.
Trillium:&nbsp;Google announced its sixth-gen Tensor Processing Unit (TPU), Trillium, which Pichai said is 4.6 times better than its predecessor. It will be available to cloud customers starting in late 2024.
Google for Workspaces:&nbsp;Side Panel will be available for Google for Workspaces next month. The Gemini-powered Side Panel comes with features such as "help me write" and "help me visualize".
Gemini will also be integrated with Google Meet and is being expanded to 68 languages.
Gmail Mobile:&nbsp;Gmail mobile is getting three new features, which include a summarize button that creates a mobile card from long texts, a Q&amp;A feature to get quick answers using your inbox&nbsp;and&nbsp;suggested replies, which are based on existing email threads.
AI Teammate:&nbsp;An&nbsp;AI Teammate is a Gemini-powered teammate who can be assigned a specific role or a job to make it efficient for the company. It can be assigned to monitor projects and answer questions based on these inputs.
Gems:&nbsp;Users can create "Gems" on the Gemini app. Gems are personal experts that can be created on Gemini to perform actions tailored to whatever you need. Gems will be rolled out in the coming months.
AI Fraud Detection:&nbsp;Google is also working on a new call monitoring feature that will help prevent fraud. This feature will warn a person if the person they are talking to is attempting to fraud them. It will warn users about potential scams and advise them against sending money to unknown callers.
Check out more of Benzinga&#8217;s Consumer Tech coverage by<a href="https://www.benzinga.com/topic/consumer-tech"> following this link</a>.
Read Next:<a href="https://www.benzinga.com/news/24/05/38695318/from-beginner-to-enthusiast-top-5-free-harvard-courses-to-spark-your-ai-journey-with-machine-learnin?itm_source=parsely-api"> From Beginner To Enthusiast: Top 5 Free Harvard Courses To Spark Your AI Journey With Machine Learning</a>
Photo courtesy: Google

At Google I/O 2024, Sundar Pichai And Team Announce New Gemini Models, Project Astra, AI Fraud Protection And More: Here's All You Need To Know

Meta Platforms Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is shutting down Workplace, a version of Facebook tailored for business communication and team collaboration.
Meta plans to maintain normal operations on Workplace until&nbsp;the start of&nbsp;September 2025, followed by a read-only mode until May 2026, before decommissioning the service&nbsp;completely, reported&nbsp;<a target="_blank" href="https://techcrunch.com/2024/05/14/meta-is-shutting-down-workplace-its-enterprise-communications-business/" rel="noreferrer noopener">TechCrunch</a>.
Facebook once harbored aspirations to dominate enterprise communication, but Meta, its parent company, is now closing a significant chapter in that narrative.&nbsp;
The report further mentioned the decision comes after Workplace&#8217;s ten-year stint, during which it aimed to introduce a new revenue stream for Facebook. However, it struggled to compete with platforms like Salesforce, Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) Slack and Microsoft Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Teams.
Zoom&nbsp;Video Communications&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) issued a statement today that Workvivo was named&nbsp;as&nbsp;Meta&#8217;s only preferred migration partner for its customers&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38823215" rel="noreferrer noopener">as it retires Workplace from Meta.</a>
Workvivo, acquired by Zoom in 2023, operates as another enterprise communication platform.
John Goulding, CEO and founder of&nbsp;Workvivo,&nbsp;said, &#8220;We know that the news today may be disruptive for Workplace from Meta customers, but we&#8217;re so excited about the opportunity to support and help them. Meta has made a huge impact in this market, and we believe that Workvivo is the natural choice for Workplace from Meta customers to transition their employee experience platform.&#8221;
Related Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38737635/french-ai-startup-founded-by-former-google-and-meta-researchers-is-up-to-challenge-silicon-valley-do" rel="noreferrer noopener">French AI Startup, Founded By Former Google And Meta Researchers, Is Up To Challenge Silicon Valley Dominance</a>
The closure&#8217;s impact on employees remains uncertain as Meta has not disclosed specific details.
Meta stock has gained more than 97% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Vanguard Communication Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) and&nbsp;Communication Services Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>).
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38783794/amazon-pours-1-3b-investment-into-french-operations-report" rel="noreferrer noopener">Amazon Pours ~$1.3B Investment Into French Operations:&nbsp;Report</a>
Price Action: META shares are trading higher by 0.63% at $470.96 at&nbsp;the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Meta Pulls Plug On Enterprise Communication Tool Workspace After 10 Years

KeyBanc analyst Justin Patterson reiterated a Buy rating on Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)<a href="https://www.benzinga.com/quote/GOOGL/analyst-ratings"> with a price target of $200.</a>
The analyst expects Google&#8217;s annual developer event, Google I/O 2024, to reinforce his thesis that Alphabet has a meaningful scale and AI creates new monetization opportunities. He hopes to see Gemini incorporated across Google products.
Also&nbsp;Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38796315/ai-focus-at-google-io-analyst-anticipates-groundbreaking-announcements-in-search-mobile-tech" rel="noreferrer noopener">AI Focus At Google I/O: Analyst Anticipates Groundbreaking Announcements In Search, Mobile Tech</a>
While audio and visual recognition capabilities may receive increased scrutiny after OpenAI&#8217;s Monday event, he is more focused on the Android device ecosystem.&nbsp;
Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and&nbsp;Meta Platforms Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) have already signaled how AI is creating new opportunities in mobile and wearables (both across devices and underlying services), and Patterson would be surprised if Google&nbsp;were left&nbsp;out of the conversation.
From his perspective, an updated Google AI assistant code-named Pixie is the main item to watch for as it could open up new products and services across Android devices.&nbsp;
Patterson expects to see updates on Android 15, Wear OS, search generative experience (SGE), and Cloud, with the overarching theme centering on Gemini-powered services. Patterson expects to wait to hear an update on Apple licensing.
The analyst noted Alphabet as a consistent revenue growth compounder in the digital advertising space due to its breadth of properties that serve two billion+ users. Further, he said&nbsp;an opportunity for more value could be realized&nbsp;through monetizing non-advertising services such as Cloud, hardware, and the Other Bets portfolio (most notably Waymo and Verily).&nbsp;
Patterson projects second-quarter revenue and EPS of $83.91 billion and $1.84, respectively.
Price Action: GOOGL shares traded lower by 0.02% at $169.08 at the last check Tuesday.
Photo via Shutterstock

Analyst Color

Google I/O 2024 To Spotlight AI Innovations And New Monetization Opportunities, Analyst Says

INTC

NVDA

Google Unveils AI Chip Trillium, 6th Generation Tensor Processing Unit

Alphabet CEO Announces Launch Of AI Overviews In Search Across U.S. This Week

ADBE

Google DeepMind CEO Unveils Veo Generative Video AI Model

Alphabet Introduces Music AI Sandbox, A Comprehensive Suite Of Music AI Tools, At Google Event

Analyst Brian Nowak from Morgan Stanley maintained a Buy rating on Alphabet Class A (GOOGL – Research Report) and keeping the price target at $195....

Buy Rating Affirmed for Alphabet Class A on Strong Search Dominance and Innovative Advancements

Tracking Tweedy Browne Portfolio - Q1 2024 Update

Stifel Nicolaus analyst Mark Kelley maintained a Buy rating on Alphabet Class A (GOOGL – Research Report) today and set a price target of $196.00. ...

Alphabet Class A (GOOGL) Receives a Rating Update from a Top Analyst

Google slips even as Street leaves I/O impressed amid renewed AI focus

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
We&rsquo;re going to need a great deal of new electricity in order to provide power for all of the AI tools. In March, Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) CEO Elon Musk <a href="https://www.barrons.com/articles/ai-chips-electricity-usage-2f92b0f3">stated that</a> the U.S. would suffer electricity outages in 2025 because of the power consumption of AI. Meanwhile, many electric utilities <a href="https://www.axios.com/2024/04/26/ai-boom-electricity-demand-surge">have said </a>that more power plants will be needed. This is leading investors to begin to look at which electrical equipment stocks they should buy.



For example, Sempra (NYSE:<a href="https://investorplace.com/stock-quotes/sre-stock-quote/">SRE</a>), which supplies power in California and Texas, is sounding the alarm about the datacenters which are being built. It says that in order to support AI there is the need for thousands of megawatts of additional electricity. And, a great deal of equipment will have to be purchased in order to run the new power plants. Consequently, the top and bottom-lines of companies that sell electrical equipment are likely to grow very quickly in the coming years. Here are three of the top electrical equipment stocks to buy.



<h2>GE Vernova (GEV)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/03/ge1600-300x169.jpg" alt="Company breakups: The General Electric GE logo on a building"><div>Source: Sundry Photography / Shutterstock.com</div></div>GE Vernova (NYSE:<a href="https://investorplace.com/stock-quotes/gev-stock-quote/">GEV</a>) stock has slumped recently after threats of a potential executive order from former President Donald Trump. He has said he <a href="https://seekingalpha.com/article/4691197-ge-vernova-margin-expansion-as-power-demand-ramps-up">plans to issue</a> an executive order curtailing wind power if he becomes president again. The company is a major supplier of wind turbines.



But, if he makes it back into the White House, the most Trump could do is prevent wind projects from being deployed on public land and stop auctioning off portions of U.S. coastal waters for wind projects. However, many big data center owners such as Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>) and Alphabet (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) are pledging to rely on renewable energy for their electricity needs. This means the demand for wind power in the U.S. is going to expand tremendously no matter what happens in Washington.



Meanwhile, GE Vernova also generates a great deal of its revenue from selling and servicing natural gas turbines. Last month Goldman Sachs reported that Natural gas is expected to supply <a href="https://www.goldmansachs.com/intelligence/pages/gs-research/generational-growth-ai-data-centers-and-the-coming-us-power-surge/report.pdf">60% of the power demand growth</a> from AI and data centers. Finally, GEV <a href="https://www.gevernova.com/grid-solutions/hvmv_equipment.htm">supplies many other types</a> of electrical equipment, such as transformers and circuit breakers.



Given its exposure to multiple, strong portions of the electrical equipment sector, GE Vernova is one of the best electrical equipment stocks to buy. 



<h2>Powell Industries (POWL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/shutterstock_1339513742-300x169.png" alt="Solar panels and wind turbines are part of Kensho Clean Power ETF (CRGN) clean energy holdings"><div>Source: sezer66 / Shutterstock.com</div></div>Powell Industries (NASDAQ:<a href="https://investorplace.com/stock-quotes/powl-stock-quote/">POWL</a>) <a href="https://seekingalpha.com/article/4690788-powell-industries-stock-price-appreciation-is-justified">sells various types of</a> customized electrical equipment. In other words, the firm designs equipment in order to meet the needs of its individual customers in various industries.



On April 30, POWL <a href="https://seekingalpha.com/news/4096829-powell-industries-gaap-eps-of-2_75-beats-0_98-revenue-of-255_11m-beats-53_66m">reported superb financial results</a> for Q2 2024. During the period, its revenue jumped 49% year-over-year to $255 million. Meanwhile, its new orders soared 19% versus the end of Q4 2023 to $235 million. Moreover, the firm&rsquo;s gross margin increased by over 5% in Q1 2024 to 24.6%. And, its net income came in at $33.5 million, up from $8.5 million in Q1 2023.



Powell&rsquo;s CFO Michael Metcalf <a href="https://seekingalpha.com/pr/19706472-powell-industries-announces-fiscal-2024-second-quarter-results?hasComeFromMpArticle=false">has said</a> that the company&rsquo;s core end markets are exhibiting favorable dynamics and activity levels to support our growth.



<h2>Eaton Corporation (ETN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/etn-stock-1-300x169.jpg" alt="An Eaton (ETN) sign on a company building."><div>Source: Lukassek / Shutterstock.com</div></div>Eaton (NYSE:<a href="https://investorplace.com/stock-quotes/etn-stock-quote/">ETN</a>) sells electrical components. This includes items such as wiring devices, circuit protection products and utility power distribution products. As of the end of 2023, billionaire Ken Griffin <a href="https://www.superinvestors.net/portfolio/ken-griffin">owned 1.26 million</a> shares of ETN stock. Further, he increased his holdings of the name by 70% in Q4 of 2023.



In Q1 2024, Eaton&rsquo;s revenue advanced 8%, excluding acquisitions and divestments, year-over-year. And its operating cash flow climbed 42% YOY to $475 million. Plus, its electrical business is really taking off as the unit&rsquo;s backlog increased 27% YOY.



Also importantly, Eaton <a href="https://seekingalpha.com/news/4096051-eaton-reports-mixed-q1-results-initiates-q2-and-raises-fy24-outlook">raised its 2024 EPS guidance</a>, excluding certain items, to $10.20-$10.60, versus its previous outlook of $9.95-$10.35. If the company&rsquo;s EPS comes in at the midpoint of the range, its EPS will jump 14% this year.



On the date of publication, Larry Ramer held a long position in GEV. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel&rsquo;s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been SMCI, INTC, and MGM. You can reach him on Stocktwits at @larryramer.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/3-electrifying-electrical-equipment-stocks-to-supercharge-your-portfolio/">3 Electrifying Electrical Equipment Stocks to Supercharge Your Portfolio</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Electrifying Electrical Equipment Stocks to Supercharge Your Portfolio

In a report released today, John Blackledge from TD Cowen maintained a Buy rating on Alphabet Class C (GOOG – Research Report), with a price target...

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Investors continue to struggle in relation to the direction of the world&rsquo;s second largest economy. China&rsquo;s growth has slowed in the past few years, pulling stocks lower. While many pundits have written off investing in the stocks from the country, others see its troubles being <a href="https://think.ing.com/articles/china-economy-not-in-a-great-decline-but-in-a-great-transition/">transitory in nature</a>. For investors looking for nearer term catalysts, <a href="https://www.globaltimes.cn/page/202405/1311820.shtml">these GDP figures</a> may prove persuasive towards certain Chinese stocks to buy.&nbsp;



Beyond that, investors can look to domestic macroeconomic forces as a reason to believe in Chinese equities. Recent signs of a cooling labor market stoked hopes for rate cuts pushing Chinese shares higher in the process.



All of the news is suggestive of the idea that fear surrounding Chinese stocks is overblown. For investors willing to back that notion, these Chinese stocks to buy arestrong choices.



<h2>PDD Holdings (PDD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/pdd1600-1-300x169.png" alt="In this photo illustration the Pinduoduo logo seen displayed on a smartphone. PDD stock"><div>Source: rafapress / Shutterstock.com</div></div>PDD Holdings (NASDAQ:<a href="https://investorplace.com/stock-quotes/pdd-stock-quote/">PDD</a>) is one of the strongest Chinese stocks to buy on the strength of its Temu business segment.



Overall, PDD Holdings grew by nearly 90% in 2023 on a top line basis. The company saw its bottom line grow by a similar rate during the same period. Meanwhile, the company is expecting <a href="https://seekingalpha.com/symbol/PDD/earnings/estimates">approximately 50% growth this year</a>. It is squarely in the hyper-growth category and continues to be undervalued due to its origins.



Forward <a href="https://www.gurufocus.com/term/forward-pe-ratio/PDD">earnings are priced at below 16</a>. That is lower than the current price for a dollar of earnings suggesting that analysts believe the share price will rise in the future.&nbsp;



The company has a real winner on its hands with Temu. It has become one of the most popular apps available.



The stock is also one of the best performing Chinese stocks over the past year. As you may have suspected, grouping of equities has performed quite poorly overall. PDD shares are one of few exceptions for good reason.



<h2>Baidu (BIDU)</h2>



<a href="https://investorplace.com/wp-content/uploads/2023/02/bidu1600-2.png"><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/02/bidu1600-2-300x169.png" alt='An image of a laptop on a table with the screen showing the red and blue logo for Chinese Internet company "Baidu", with the background being blurred.'></a>Allow me to offer a simple but powerful narrative about Baidu (NASDAQ:<a href="https://investorplace.com/stock-quotes/bidu-stock-quote/">BIDU</a>) and its stock. Investors who follow the logic are likely to quickly recognize the inherent value of investing in the company at this moment.



In 2023 Baidu&rsquo;s revenues increased by 9% while net income nearly tripled, rising 169%. Yet, share prices have fallen by more than 6% over the last 12 months. There&rsquo;s an inherent disconnect between the two suggesting a lot of value in Baidu&rsquo;s shares at the moment.



If that simple but powerful narrative is not compelling enough then also consider artificial intelligence. Baidu&rsquo;s AI <a href="https://investorplace.com/2024/05/the-3-best-chinese-stocks-to-buy-in-may-2024/">chatbot tool currently has more than 200 million users</a>. The company is considered to be the Chinese equivalent of Alphabet&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) Google, mirroring the company in many ways.&nbsp;



It&rsquo;s that combination of undervalued pricing and artificial intelligence potential that makes Baidu particularly compelling as an investment. It&rsquo;ll remain one of the best Chinese stock opportunities through the current tense period characterizing markets.



<h2>Li Auto (LI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/li1600-2-300x169.png" alt="The steering wheel and dashboard inside Li Auto electric car. Interior of Li Auto EV. Li Auto Also known as Li Xiang, is a Chinese electric vehicle company"><div>Source: Robert Way / Shutterstock.com</div></div>It&rsquo;s exceedingly easy to find reason to be bearish about Li Auto (NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>) and other Chinese <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a>.&nbsp;



The Chinese domestic EV market is slowing while competition heats up. There are<a href="https://invezz.com/news/2024/05/10/very-bad-news-for-nio-xpeng-byd-li-auto-and-tesla-stocks/"> now more than 100 domestic EV producers</a>. That will put downward pressure on vehicles from leading firms including Li Auto.



Furthermore, the Biden Administration is considering increasing tariffs on Chinese EVs in the run up to the election. American protectionism is another negative sign which could easily galvanize investors to avoid Chinese EV stocks altogether.



Yet, there are compelling reasons to consider Li Auto in particular as perhaps the best Chinese EV stock. The company is the first in its segment to turn a profit. The company produces primarily hybrid vehicles. The fact that it <a href="https://www.nasdaq.com/articles/li-auto:-the-first-profitable-ev-maker-in-china-revs-up-investor-interest">reached profitability first</a> provides a strong use case for hybridization as the best overall strategy.



The company&rsquo;s April delivery <a href="https://www.globenewswire.com/news-release/2024/05/01/2872902/0/en/Li-Auto-Inc-April-2024-Delivery-Update.html">figures were flat </a>Li Auto will commence large-scale deliveries of its plug-in hybrid electric L6 model in May. There&rsquo;s a lot to look forward to.



On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines</a>.
<div>Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/chinas-comeback-kids-3-stocks-to-ride-the-dragons-resurgence/">China&#8217;s Comeback Kids: 3 Stocks to Ride the Dragon&#8217;s Resurgence</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

China's Comeback Kids: 3 Stocks to Ride the Dragon's Resurgence

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