The market wiped about $150 billion off Alphabet’s market cap after its AI program made a mistake and after the unveiling of new AI search features. Any perception Google has become complacent could be hard to shake, says rob_cyran.
Perceived threats are harder to shake. Microsoft knows this well. In the decade before Nadella become chief executive in 2014, earnings more than doubled. Yet investors worried Microsoft was more concerned with squeezing customers than beating back online competitors. The firm’s earnings multiple was cut in half to about 10. The shares barely moved for a decade, until Nadella’s cloud services push changed the narrative.
Since then, Microsoft’s stock has increased dramatically – shares are worth 10 times more than in 2004. A lull might not be so bad at Alphabet if it ultimately had the same outcome, but for shareholders, the uncertainty is painful.Alphabet’s stock fell over 7% on Feb. 8 and was down over 4% on the morning of Feb. 9 as of 11 a.m. ET after an underwhelming reveal of its new plans for using artificial intelligence.
On Feb. 7, Microsoft held an event that unveiled new versions of its search engine and web browser that incorporate artificial intelligence. The company has released a version of its Bing search engine using the technology.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
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