Alphabet reportedly is using AI applications in almost all the firm’s central business silos, from ad pricing to content to spam filters. It is also the parent company for software subsidiary DeepMind and autonomous vehicle company Waymo.
Goldman Sachs has a price target for Alphabet stock of $140, which compares with the $133.52 consensus target and Monday’s closing print of $124.65.
Meta Platforms
The Facebook and Instagram parent remains a social media destination for millions daily, and the stock is the second Goldman Sachs top pick. Meta Platforms Inc. (NASDAQ: META) develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables and in-home devices worldwide.
Its Family of Apps segment offers products such as Facebook, which enables people to share, discover and connect with interests; Instagram, a community for sharing photos, videos and private messages, as well as feed, stories, reels, video, live and shops; Messenger, a messaging application for people to connect with friends, family, groups and businesses across platforms and devices through chat, audio and video calls and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
The Reality Labs segment provides augmented and virtual reality products, comprising virtual reality hardware, software and content that help people feel connected, anytime and anywhere. Toss in the recent addition of the Twitter-styled Threads, which had a massive launch with over 100 million people signing up, and the wind is clearly behind the company.
Goldman Sachs has set its price target at $335, while Meta Platforms stock has a $296.39 consensus target. Monday’s closing share price was $310.62.
IAC
Internet content and information is growing each year, and this is a great way to invest in it. IAC Inc. (NASDAQ: IAC) operates as a media and internet company worldwide. It publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury and fashion areas, as well as magazines related to women and lifestyle.
It also operates a digital marketplace that connects home service professionals with consumers for repairing, remodeling, cleaning, landscaping, maintenance and enhancement services under the Angi Ads, Angi Leads and Angi Services brands. The company’s websites offer general search services and information, including Ask.com (a search site with a variety of fresh and contemporary content), Reference.com (offering content across select vertical categories), ConsumerSearch.com (offering content designed to simplify the product research process) and Shopping.net (a vertical shopping search site that contains a mix of search services and content targeted to various user or segment demographics). It also offers direct-to-consumer downloadable desktop applications.
IAC also offers Care.com (an online destination for families to connect with caregivers for their children, aging parents, pets and homes). It develops and provides subscription mobile applications across the communication, language, weather, business, health and lifestyle verticals. Bluecrew is a technology-driven staffing platform for flexible W-2 work, while Vivian Health is a platform to connect health care professionals with job opportunities and The Daily Beast is a website dedicated to news, commentary, culture and entertainment that publishes original reporting and opinion. In addition, it offers production and producer services for feature films for sale and distribution through theatrical releases and video-on-demand services.
The Goldman Sachs price target is $74, but the consensus target is higher at $83.93. IAC stock closed on Monday at $68.44.
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