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Alphabet Inc

Iran&#8217;s reformist government has lifted the ban on Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) WhatsApp, and 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 Play.
What Happened: Iran&#8217;s reformist government, led by Masoud Pezeshkian, has lifted this ban, marking a significant move towards reducing internet restrictions, <a href="https://www.ft.com/content/bb68c686-89d2-4305-bd1e-94452795809c">reported</a> the Financial Times.
This decision was made during a high-level meeting on Tuesday, overcoming resistance from hardline factions within the Islamic regime, the report noted, citing Iranian media.
See Also: <a href="https://www.benzinga.com/24/12/42664762/after-investing-nearly-14-billion-in-openai-microsoft-reportedly-moves-to-reduce-its-dependence-on-chatgpt-parent?itm_source=parsely-api">Microsoft Invested Nearly $14 Billion In OpenAI But Now Its Reducing Its Dependence On The ChatGPT-Parent</a>
The move is part of a broader effort by Pezeshkian&#8217;s administration to ease pressures on civil society.
Sattar Hashemi, Iran's telecommunications minister, stated on X, &#8220;Today, we took the first step towards lifting internet restrictions by demonstrating unity,&#8221; adding, &#8220;This path will continue&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">امروز گام اول رفع محدودیت از اینترنت را با همدلی و وفاق برداشتیم. از پیگیری رییس‌جمهور و همراهی رسانه‌ها و فعالان ممنونم و بیش از پیش به این همراهی و همدلی نیازمندیم. این مسیر ادامه دارد…
&mdash; Sattar Hashemi (@HashemiSattar) <a href="https://twitter.com/HashemiSattar/status/1871552451247251913?ref_src=twsrc%5Etfw">December 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Despite restrictions, Iranians have accessed platforms like WhatsApp and Instagram through widely available VPNs.
Reformists accuse hardliners of hypocrisy, alleging they profit from VPN sales. They also argue that easing restrictions could alleviate public discontent.
Hardliners view the internet as a tool for adversaries like the U.S. and Israel to wage a &#8220;soft war&#8221; against Iran.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
According to Iranian Students Polling Agency surveys, WhatsApp usage rose steadily from 16.6% in December 2015 to 25% after Telegram&#8217;s ban, reaching 71.4% by August 2021.
Instagram usage grew from 25.5% in December 2015 to 53.1% by August 2021, establishing it as the second-most popular platform in the country.
The lifting of the ban also comes amid heightened tensions between Iran and the U.S. Last month, Iran&#8217;s foreign ministry <a href="https://www.benzinga.com/news/global/24/11/41869511/iran-calls-trump-assassination-plot-claims-completely-baseless">dismissed accusations</a> by the U.S. Department of Justice regarding an alleged plot to assassinate Donald Trump.
Image via Shutterstock
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.&nbsp;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42666738/how-apples-upcoming-smart-doorbell-compares-to-amazons-ring?itm_source=parsely-api">How Apple&#8217;s Upcoming Smart Doorbell Compares To Amazon&#8217;s Ring</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Media

Iran Turning Soft? Reformist Government Lifts WhatsApp, Google Play Ban — Promises 'This Path Will Continue'

The year 2024 saw the U.S. stock market make new records, with major indices breaching key milestones. While many stocks witnessed a stellar rally this year, analysts still expect some blue-chip equities to rise further as they forecast a better return potential.
Dow&#8217;s Performance In 2024
The Dow Jones Industrial Average index hit a record eight 1,000-point milestones this year. It started the year around the 37,000 level and breached the 45,000 level at the beginning of December. It took only seven trading days for the index to go from 44,000 to 45,000, the second fastest 1,000-point milestone ever.
Following that the index also saw one of its longest 10-day losing streak, the first ever since 1974. These 10 days of underperformance stems from a confluence of factors. 
The Dow doesn&#8217;t include all &#8220;Magnificent 7&#8221; stocks like Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and 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 recent inclusion of Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) in the Dow has also pulled the index down because of the stock&#8217;s underperformance.
Dow&#8217;s constituent UnitedHealth Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) has experienced a substantial decline this month following the tragedy with its CEO&#8217;s shooting. Moreover, in essence, the Dow&#8217;s historical advantage of its price-weighted indexing has become a significant disadvantage in today&#8217;s market. This is because, unlike market capitalization-weighted indices, higher-priced stocks have more weight in the calculation of a price-weighted index.
<h4 class="wp-block-heading">Dow Jones Stocks With The Best And Worst Return Potential</h4>
Analysts still expect that a group of stocks led by Caterpillar Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), UnitedHealth and Sherwin-Williams Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) within the Dow will rise even more, according to estimates compiled by <a href="https://www.benzinga.com">Benzinga</a>. Others on the list are the Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>), Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Merck &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>).
To be sure, analysts keep updating their forecasts based on company performance and may change their estimates as the new earnings season begins.
Selection Criteria:
<ul>
<li>The thirty blue-chip stocks in Down Jones.</li>
</ul>
<ul>
<li>The highest and lowest return potential is based on the average 12-month target prices from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.</li>
</ul>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Companies</td>
<td>M-Cap</td>
<td>Highest PT ($/Share)</td>
<td>Lowest PT ($/Share)</td>
<td>Consensus PT ($/Share)</td>
<td>Upside/Downside Potential</td>
</tr>
<tr>
<td>Caterpillar Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>)</td>
<td>176.73B</td>
<td>515</td>
<td>174</td>
<td>331.35</td>
<td>31.68%</td>
</tr>
<tr>
<td>UnitedHealth Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)</td>
<td>460.26B</td>
<td>675</td>
<td>460</td>
<td>608.16</td>
<td>28.95%</td>
</tr>
<tr>
<td>Sherwin-Williams Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>)</td>
<td>86.71B</td>
<td>450</td>
<td>249</td>
<td>371.19</td>
<td>24.08%</td>
</tr>
<tr>
<td>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>2,365.04B</td>
<td>290</td>
<td>197</td>
<td>247.05</td>
<td>23.82%</td>
</tr>
<tr>
<td>Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>)</td>
<td>347.83B</td>
<td>215</td>
<td>40</td>
<td>168</td>
<td>22.41%</td>
</tr>
<tr>
<td>Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>)</td>
<td>256.71B</td>
<td>212</td>
<td>160</td>
<td>179.36</td>
<td>21.42%</td>
</tr>
<tr>
<td>Merck &amp; Co Inc (NYSE: MRK</td>
<td>248.03B</td>
<td>155</td>
<td>104</td>
<td>126.24</td>
<td>20.76%</td>
</tr>
<tr>
<td>Salesforce Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crm#NYSE">CRM</a>)</td>
<td>328.87B</td>
<td>450</td>
<td>236</td>
<td>378.52</td>
<td>20.60%</td>
</tr>
<tr>
<td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>3,246.07B</td>
<td>600</td>
<td>465</td>
<td>508</td>
<td>18.21%</td>
</tr>
<tr>
<td>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>)</td>
<td>622.63B</td>
<td>375</td>
<td>252</td>
<td>318.42</td>
<td>17.69%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Benzinga.com (Data as of Dec. 22, 2024)</figcaption></figure>
See Also: <a href="https://www.benzinga.com/24/12/42430296/carson-researchs-50-year-study-suggests-that-the-26-months-old-bull-market-is-far-from-over">Is The 26-Month Bull Market Over? Here Is What Carson Research&#8217;s 50-Year Old Study Tells Us</a>
<h3 class="wp-block-heading">Caterpillar Inc</h3>
<ul>
<li>Caterpillar Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) has the highest return potential of 31.68% among the Dow Jones constituents.</li>
</ul>
<ul>
<li>The 28 analysts tracking the company have a consensus price target of $331.35 per share, according to <a href="https://www.benzinga.com/quote/CAT/analyst-ratings">Benzinga</a>. </li>
</ul>
<ul>
<li>Truist Securities&#8217; Jamie Cook raised the price target from $454 to $471 per share on Dec. 19, 2024 as he expects significant investments in infrastructure, likely driven by government initiatives and private sector projects to fuel demand for Caterpillar&#8217;s equipment.</li>
</ul>
<ul>
<li>Citigroup analyst Kyle Menges maintained a &#8216;buy&#8217; rating on the company and raised the price target from $435 to $460 apiece on Dec. 9, 2024.</li>
</ul>
<ul>
<li>On Dec. 9, JPMorgan analyst Tami Zakaria also reaffirmed her bullish stance on Caterpillar, maintaining a &#8216;buy&#8217; rating on the stock. Concurrently, she raised the firm&#8217;s price target for Caterpillar from $500 to $515 per share.</li>
</ul>
<h3 class="wp-block-heading">UnitedHealth Group</h3>
<ul>
<li>UnitedHealth Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) has the second highest return potential of 28.95% among the Dow Jones constituents.</li>
</ul>
<ul>
<li>The 26 analysts tracking the company have a consensus price target of $331.35 per share, according to <a href="https://www.benzinga.com/quote/UNH/analyst-ratings">Benzinga</a>.</li>
</ul>
<ul>
<li>Oppenheimer raised its price target to $640 from $610 apiece on Dec.6, 2024. The primary reason for the price target increase is that the Oppenheimer analyst is updating their financial model. This update appears to be based solely on the publicly available information disclosed by UnitedHealth in their 8-K filing.</li>
</ul>
<ul>
<li>Stephens &amp; Co raised its target price to $675 from $605 per share on Dec. 5, 2024, after conducting a detailed review of the 2025 guidance metrics that UnitedHealth had shared before the fatal shooting of CEO Brian Thompson that led to the cancellation of their investor conference.</li>
</ul>
<ul>
<li>Deutsche Bank also increased its target from $595 to $625 apiece as it believes investor positioning into the event is mostly neutral to positive, with almost no one expecting a negative revision versus the third quarter outlook.</li>
</ul>
<h3 class="wp-block-heading">Sherwin-Williams Company</h3>
<ul>
<li>Sherwin-Williams Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) has a return potential of 24.08% going into 2025.</li>
</ul>
<ul>
<li>A consensus price target of $371.19 per share was maintained by 25 analysts that track the company, as per <a href="https://www.benzinga.com/quote/SHW/analyst-ratings">Benzinga</a>. </li>
</ul>
<ul>
<li>Greg Melich from Evercore ISI raised the price target of the Ohio-based paints, coatings and related products manufacturer to $420 from $400 per share on Nov. 7, 2024.</li>
</ul>
<ul>
<li>RBC Capital&#8217;s Arun Viswanathan lowered his target on the company from $455 to $446 per share on Oct. 24, 2024. While acknowledging that third-quarter results might not have met investor expectations, Viswanathan emphasized the company&#8217;s potential for market share gains and the positive impact of its upcoming price increase scheduled for January 2025.</li>
</ul>
<ul>
<li>Citigroup adjusted its price target from $430 to $420 apiece on Oct. 24 as it anticipates choppy demand in the first half of 2025, which could hinder the rapid pass-through of interest rate cuts.</li>
</ul>
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/42383725/trump-administrations-deregulation-efforts-to-lift-energy-oil-and-gas-sectors-ai-frenzy-to-aid-faang-stocks-and-nvidia-says-fintech-insider">Trump&#8217;s Deregulation Efforts To Benefit Energy, Oil And Gas Sectors, While AI Frenzy Will Boost FAANG Stocks And Nvidia, Says Fintech Insider</a>
<h3 class="wp-block-heading">Amazon.com Inc</h3>
<ul>
<li>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has a return potential of 23.82% going into 2025.</li>
</ul>
<ul>
<li>A consensus price target of $247.05 per share was maintained by 39 analysts that track the company, as per <a href="https://www.benzinga.com/quote/AMZN/analyst-ratings">Benzinga</a>. </li>
</ul>
<ul>
<li>Tigress Financial&#8217;s Ivan Feinseth umped is price target from $245 to $290 apiece on Dec.20, 2024 as it believes Amazon is well-positioned for continued success, driven by robust retail trends, effective utilization of generative AI and its fulfillment network, and the strategic integration of AI across its entire business.</li>
</ul>
<ul>
<li>The expectations of strong long-term growth driven by operational efficiency and sustained momentum across its business segments led Bernstein to raise its target price from $235 to $265 per share on Dec. 18, 2024.</li>
</ul>
<ul>
<li>According to JPMorgan analyst Douglas Anmuth, Amazon is a best idea for 2025, and confidence in AWS growth in the months to come is a major reason for that. He raised its target price from $250 to $280 apiece on Dec. 18, 2024.</li>
</ul>
<h3 class="wp-block-heading">Johnson &amp; Johnson</h3>
<ul>
<li>Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) has the fifth highest return potential in Dow of 22.41% going into 2025.</li>
</ul>
<ul>
<li>The 21 analysts tracking the company have a consensus price target of $168 apiece, according to <a href="https://www.benzinga.com/quote/JNJ/analyst-ratings">Benzinga</a>. </li>
</ul>
<ul>
<li>Citigroup&#8217;s Joanne Wuensch lowered Johnson &amp; Johnson&#8217;s price target from $185 to $175 per share while maintaining a &#8216;buy&#8217; rating on Dec. 11, 2024.</li>
</ul>
<ul>
<li>BofA Securities reinstated coverage of Johnson &amp; Johnson with a &#8216;neutral&#8217; rating and a $166 price target on Dec. 10, 2024. BofA notes that J&amp;J&#8217;s current valuation premium to peers may limit upside potential. However, the analyst acknowledges a &#8220;fairly interesting&#8221; pipeline and anticipates that resolving the talc litigation in 2025 would be beneficial. This analysis was part of BofA&#8217;s broader coverage initiation of 11 large-cap U.S. pharmaceutical and biotechnology companies.</li>
</ul>
<ul>
<li>Wolfe Research analyst Alexandria Hammond commenced coverage of Johnson &amp; Johnson with an &#8216;outperform&#8217; recommendation and established a price target of $190 per share on Nov. 15, 2024</li>
</ul>
<h3 class="wp-block-heading">Chevron Corporation</h3>
<ul>
<li>Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) has a return potential of 21.42% going into 2025.</li>
</ul>
<ul>
<li>The 24 analysts tracking the company have a consensus price target of $179.36 apiece, according to <a href="https://www.benzinga.com/quote/CVX/analyst-ratings">Benzinga</a>.</li>
</ul>
<ul>
<li>Piper Sandler analyst Ryan Todd reduced his price target on the company from $184 to $173 per share on Dec. 19, 2024, while maintaining a &#8216;buy&#8217; rating. Piper Sandler suggests the valuation gap between Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron implies a probability of over 65% of the Hess Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) deal failing out. This scenario presents a potential 15%-25% upside, while a successful deal offers a 5%-10% downside ahead of the upcoming arbitration.</li>
</ul>
<ul>
<li>Despite this deal uncertainty, Piper expects Chevron to deliver strong portfolio performance in 2025, driven by project starts and controlled capital expenditures. This is projected to result in a significant free cash flow increase of $6-$7 billion.</li>
</ul>
<ul>
<li>Wells Fargo analyst Roger Read raised his target price from $171 to $188 apiece on Dec. 9, 2024</li>
</ul>
<ul>
<li>Truist Securities raised its price target on Chevron to $160 from $155 while maintaining a &#8216;hold&#8217; rating, on Dec. 6, 2024. The analyst highlights Chevron&#8217;s significant inventory, including ample royalties, and expects improved capital efficiency to drive a cash flow inflection in the coming year.</li>
</ul>
<h3 class="wp-block-heading">Merck &amp; Co Inc</h3>
<ul>
<li>Merck &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) has the seventh highest return potential in Dow of 20.76% going into 2025.</li>
</ul>
<ul>
<li>The 27 analysts tracking the company have a consensus price target of $126.24 apiece, according to <a href="https://www.benzinga.com/quote/MRK/analyst-ratings">Benzinga</a>.</li>
</ul>
<ul>
<li>BMO Capital Markets downgraded Merck to &#8216;market perform&#8217; from &#8216;outperform&#8217; lowering the price target from $136 to $105 apiece, on Dec. 20, 2024. The downgrade reflects concerns about the company&#8217;s Gardasil franchise in China and the potential revenue gap as Keytruda faces increased competition from biosimilars and generic drugs.</li>
</ul>
<ul>
<li>Tim Anderson from BofA Securities maintains his bullish stance on Merck with a &#8216;buy&#8217; rating, while adjusting the price target downward to $121 from $127 per share, on Dec. 10, 2024.</li>
</ul>
<ul>
<li>Truist analyst Robyn Karnauskas reaffirms a &#8216;buy&#8217; rating for Merck on Nov. 7, 2024, but lowers the price target to $130 from $132 apiece.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42642834/market-breadth-turns-positive-after-a-rare-14-day-negative-streak-history-suggests-gains-ahead">Market Breadth Rebounds As Risk Appetite Makes A Comeback: This Analyst Predicts Gains Ahead After S&amp;P 500&#8217;s Record Negative Streak</a></li>
</ul>
Photo courtesy: Shutterstock

Analyst Color

Long Ideas

Trading Ideas

Top 7 Blue-Chip Stocks With The Best Return Potential Going Into 2025

Looking for the perfect gift this holiday season? You can&#8217;t go wrong with tech.
The Magnificent 7 companies—Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), 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>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)—offer some of the best gadgets, accessories, and experiences.
So, this Christmas, whether you&#8217;re shopping for a techie, a gamer, or someone who just loves convenience, there's something for everyone.
Apple
Apple Watch Strap: Add some flair to an Apple Watch with a durable, comfy band. Available in multiple colors. The starting price is $49.
AirTag: Perfect for tracking keys, bags, or anything else you misplace. Compact and easy to use. Price: $29.
Amazon
Echo Dot (5th Gen): A smart speaker with Alexa to control devices, play music, and more. Compact and stylish. Price starting at $22.99.
Amazon Fire TV Stick 4K: Stream your favorite shows in 4K resolution. Supports 4K Ultra HD, Dolby Vision, HDR10+, and Dolby Atmos. Easy to set up and use.&nbsp;
See Also:&nbsp;<a data-google-interstitial="false" style="white-space: normal; box-sizing: border-box; border: 0px solid rgb(229, 231, 235); color: rgb(44, 162, 209); text-decoration: inherit; font-family: &quot;Helvetica Neue&quot;, Helvetica, OpenSans, Arial, sans-serif; font-size: 17.6px; font-variant-ligatures: normal; orphans: 2; widows: 2;" href="https://www.benzinga.com/tech/24/12/42378596/openais-chatgpt-makes-headway-in-search-threatening-googles-reign" target="_blank" rel="noopener"><span style="box-sizing: border-box; border: 0px solid rgb(229, 231, 235); --tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgba(59,130,246,.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; --tw-contain-size: ; --tw-contain-layout: ; --tw-contain-paint: ; --tw-contain-style: ;">OpenAI&#8217;s ChatGPT Makes Headway In Search, Threatening Google&#8217;s Reign</a>
Alphabet
Chromecast with Google TV: A versatile streaming device that integrates various streaming services into a single user-friendly interface. Features a compact design that connects directly to the HDMI port of your TV and comes with a voice remote equipped with Google Assistant.&nbsp;
YouTube Premium Subscription: Enjoy ad-free videos, background play, and YouTube Music access. Priced at $13.99 per month.
Meta
Meta Quest 3 Elite Strap: For those who like to extend their virtual reality experience, this is a perfect gift. Addresses common discomfort issues by redistributing weight more evenly across the head, reducing pressure on the face and neck. Priced at $69.99.
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.
Microsoft
Xbox Wireless Controller: The controller features a sleek, updated design with improved ergonomics, textured grips, and a hybrid D-pad for superior comfort and precision during gameplay. It offers compatibility with both Xbox Wireless and Bluetooth.
Microsoft Bluetooth Mouse: A simple, modern mouse that works with Windows and Mac can boost your productivity infinitely. Great for daily use.
Nvidia
GeForce NOW Priority Membership (One year): Stream top games with priority access and extended sessions. Users can stream games in up to 1440p resolution—an improvement from the previous 1080p—and enjoy support for ultrawide resolutions. A gamer's dream. Price: $9.99/month or $99.99/ year.
Tesla
Tesla Key Card: A handy backup or replacement key for Tesla owners. Makes life easier. Price: $40.
Tesla Wireless Portable Charger: A sleek, fast charger compatible with most smartphones. It offers magnetic, wireless charging and boasts a robust 5000mAh battery capacity. Perfect for on-the-go charging. Price: $95.
From sleek devices to powerful experiences, these gifts from the Magnificent 7 companies are sure to impress anyone on your list.
The best part? You can't go wrong with these trusted brands.
Happy shopping!
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:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41141844/after-googles-2-7b-acquisition-of-founders-and-staff-this-ai-startup-abandons-large-language-model-p" target="_blank" rel="noreferrer noopener">After Google's $2.7B Acquisition Of Founders And Staff, This AI Startup Abandons Large Language Model Plans And Shifts Focus Away From Chatbots</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech, Toys, And Tesla: The Ultimate Santa Tech Wishlist From Magnificent 7 Companies

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) intends to participate in the upcoming U.S. antitrust trial involving 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.
What Happened: The move comes as Apple seeks to defend its billion-dollar revenue-sharing agreements with Google, a significant source of income for the tech giant, reported Reuters.
According to court documents filed in Washington on Monday, Apple has no plans to develop its own search engine to compete with Google, irrespective of the continuation of the payments.
Apple said, &#8220;Google can no longer adequately represent Apple's interests: Google must now defend against a broad effort to break up its business units.&#8221;
See Also: <a href="https://www.benzinga.com/tech/24/12/42665380/want-500-in-google-store-credit-heres-what-you-need-to-do?itm_source=parsely-api">Want $500 In Google Store Credit? Here&#8217;s What You Need To Do</a>
Apple is preparing to present witnesses at the trial, which is set for April.
The prosecution&#8217;s goal is to prove that <a href="https://www.benzinga.com/tech/24/11/42105079/googles-unlawful-behavior-stifles-market-entry-for-rivals-doj-says-alphabet-must-sell-chrome-to-end-search-monopoly">Google needs to take several measures</a>, including selling its Chrome web browser and possibly its Android operating system, to reestablish competition in the online search market.
In 2022 alone, Apple&#8217;s agreement with Google brought in an <a href="https://www.benzinga.com/24/11/42083150/googles-20b-search-deal-with-apple-faces-collapse-after-antitrust-ruling-what-it-could-means-for-both-tech-giants">estimated $20 billion</a>.
Alphabet did not immediately respond to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga's</a> request for comments.
Why It Matters: On Dec. 20, Google responded to the proposed remedies in its search distribution case with the DOJ, focusing on <a href="https://www.benzinga.com/24/12/42646134/alphabet-defends-doj-case-new-buyback-likely-from-this-2025-top-pick">non-exclusivity and increased flexibility</a> to limit regulatory overreach.
Last year, Apple&#8217;s Eddy Cue justified the <a href="https://www.benzinga.com/news/23/09/34946635/apple-defends-its-19b-google-search-deal-even-as-it-laments-its-privacy-policies">billion-dollar deal with Google</a>, citing it as the best available option despite lamenting Google&#8217;s privacy policies.
Price Action: On Tuesday, Alphabet's Class A shares gained 0.76%, closing at $196.11, while Class C shares advanced 0.81%, ending at $197.57, as per <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>. Apple shares climbed 1.15% during regular trading hours, closing at $258.20, but dipped 0.039% in after-hours trading.
Photo Courtesy: Koshiro K On Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42666738/how-apples-upcoming-smart-doorbell-compares-to-amazons-ring?itm_source=parsely-api">How Apple&#8217;s Upcoming Smart Doorbell Compares To Amazon&#8217;s Ring</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Legal

Google Can No Longer 'Adequately Represent' Apple's Interests — iPhone-Maker Seeks To Defend $20 Billion Search Deal In Landmark Antitrust Case

Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) has outperformed the market over the past 5 years by 10.5% on an annualized basis producing an average annual return of 23.87%. Currently, Alphabet has a market capitalization of $2.40 trillion. 
Buying $1000 In GOOGL: If an investor had bought $1000 of GOOGL stock 5 years ago, it would be worth $2,883.87 today based on a price of $196.15 for GOOGL at the time of writing.
<h3>Alphabet's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1735070421_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Alphabet 5 Years Ago Would Be Worth This Much Today

Contractors working on Google Gemini are comparing its responses to Claude's, according to internal correspondence seen by TechCrunch.
<a href="https://techcrunch.com/2024/12/24/google-is-using-anthropics-claude-to-improve-its-gemini-ai/" title="https://techcrunch.com/2024/12/24/google-is-using-anthropics-claude-to-improve-its-gemini-ai/">https://techcrunch.com/2024/12/24/google-is-using-anthropics-claude-to-improve-its-gemini-ai/</a>

'Google Gemini is using Claude to improve its AI' - TechCrunch

Investors with a lot of money to spend have taken a bearish stance on Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with GOOGL, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 12 options trades for Alphabet.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $40,301, and 11, calls, for a total amount of $455,236.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $230.0 for Alphabet over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Alphabet stands at 5886.7, with a total volume reaching 4,877.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Alphabet, situated within the strike price corridor from $100.0 to $230.0, throughout the last 30 days.
<h3>Alphabet Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1735051528_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GOOGL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>12/27/24</td>
<td>$1.67</td>
<td>$1.64</td>
<td>$1.67</td>
<td>$195.00</td>
<td>$65.1K</td>
<td>13.8K</td>
<td>1.4K</td>
</tr>
<tr>
<td>GOOGL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$8.75</td>
<td>$8.6</td>
<td>$8.7</td>
<td>$220.00</td>
<td>$52.2K</td>
<td>20.4K</td>
<td>0</td>
</tr>
<tr>
<td>GOOGL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/24/25</td>
<td>$94.95</td>
<td>$94.95</td>
<td>$94.95</td>
<td>$100.00</td>
<td>$47.4K</td>
<td>2</td>
<td>5</td>
</tr>
<tr>
<td>GOOGL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$48.35</td>
<td>$46.85</td>
<td>$46.85</td>
<td>$150.00</td>
<td>$46.8K</td>
<td>1.0K</td>
<td>0</td>
</tr>
<tr>
<td>GOOGL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$4.2</td>
<td>$4.1</td>
<td>$4.2</td>
<td>$197.50</td>
<td>$42.0K</td>
<td>258</td>
<td>167</td>
</tr>
</tbody>
</table>

<h3>About Alphabet</h3>
Alphabet is a holding company that wholly owns internet giant Google. The California-based company derives slightly less than 90% of its revenue from Google services, the vast majority of which is advertising sales. Alongside online ads, Google services houses sales stemming from Google's subscription services (YouTube TV, YouTube Music among others), platforms (sales and in-app purchases on Play Store), and devices (Chromebooks, Pixel smartphones, and smart home products such as Chromecast). Google's cloud computing platform, or GCP, accounts for roughly 10% of Alphabet's revenue with the firm's investments in up-and-coming technologies such as self-driving cars (Waymo), health (Verily), and internet access (Google Fiber) making up the rest.
Having examined the options trading patterns of Alphabet, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of Alphabet</h3>
<ul>
<li>With a trading volume of 508,770, the price of GOOGL is up by 0.15%, reaching $194.92.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 35 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Alphabet</h3>
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $214.25.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from B of A Securities has decided to maintain their Buy rating on Alphabet, which currently sits at a price target of $210. 
&#x2A; Reflecting concerns, an analyst from Goldman Sachs lowers its rating to Buy with a new price target of $210. 
&#x2A; An analyst from JP Morgan has decided to maintain their Overweight rating on Alphabet, which currently sits at a price target of $232. 
&#x2A; An analyst from Baird downgraded its action to Outperform with a price target of $205. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Alphabet options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Alphabet Options Trading: A Deep Dive into Market Sentiment

<ul>
<li>TLRY</li>
<li>NVDA</li>
<li>MSTR</li>
<li>AMD</li>
<li>TSLA</li>
<li>GOOGL</li>
<li>$BTC</li>
<li>AAPL</li>
<li>AAL</li>
<li>LUNR</li>
</ul>
<a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

$BTC

LUNR

MSTR

TLRY

Top 10 Trending Stocks On WallStreetBets As Of December 24, 2024 (Via Swaggy Stocks)

Waymo, 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>) autonomous driving system subsidiary, released a new research report last week showing that Waymo's autonomous vehicles outperform human-driven vehicles <a href="https://www.benzinga.com/news/24/10/41541316/waymo-fleet-hits-25m-driverless-miles-autonomous-driving-company-says-its-fleet-is-safer-than-human">in terms of safety.&nbsp;</a>
The Details: Waymo partnered with Swiss Re, a leading reinsurer, to analyze insurance industry third-party auto liability claims from 25.3 million miles of fully autonomous driving. The <a href="https://storage.googleapis.com/waymo-uploads/files/documents/safety/Comparison%20of%20Waymo%20and%20Human-Driven%20Vehicles%20at%2025M%20miles.pdf">report showed</a> a substantial safety improvement over its previous 3.8-million-mile study which "not only validates ADS safety at scale but also provides a new approach for ongoing ADS evaluation," the report stated.&nbsp;
Read Next: <a href="https://www.benzinga.com/24/12/42653466/honda-nissan-plan-to-merge-in-the-face-of-chinese-ev-competition">Honda, Nissan Confirm Merger Plans To Offset Chinese EV Competition: How Mitsubishi Factors In</a>
Waymo vehicles demonstrated an 88% reduction in property damage claims and a 92% reduction in bodily injury claims compared to human drivers. The report revealed only nine property damage claims and two bodily injury claims involving Waymo vehicles, while human drivers would have been expected to generate 78 and 26 such claims, respectively.&nbsp;
Against newer vehicles equipped with ADAS features like automated emergency braking and lane-keeping assistance, Waymo showed an 86% reduction in property damage claims and a 90% reduction in bodily injury claims.&nbsp;
"Auto insurance claims data, traditionally used to assess human driver liability and risk, is a powerful tool in evaluating the safety performance of autonomous vehicles," said Mauricio Peña, chief safety officer at Waymo. 
"This is a truly groundbreaking study that not only validates the Waymo Driver's strong safety record, but also provides a scalable framework for ongoing assessment of the impact autonomous vehicles make on road safety," Peña added.
Why It Matters: The safety of autonomous vehicles is under intense scrutiny as automakers push to advance the technology and regulators work to ensure new frameworks and ensure safety on the roadways.&nbsp;
Waymo is involved in <a href="https://www.benzinga.com/government/24/05/39027038/auto-regulator-nhtsa-pulls-up-alphabets-waymo-after-spotting-9-more-unexpected-driving-behavior-repo">an investigation</a> by the National Highway Traffic Safety Administration launched in May 2024 due to concerns about the performance and safety of Waymo&#8217;s self-driving vehicles. The company also recently announced plans to expand its robotaxi service to Tokyo and Miami in 2026.
Earlier this month, General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) shuttered its autonomous vehicle unit, Cruise, following a serious accident in October 2023. GM said it intends<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42425386/general-motors-stock-is-rising-after-the-bell-whats-driving-the-action"> to combine</a> its majority-owned Cruise and GM technical teams into a single team working on advancing autonomous and assisted driving for personal vehicles rather than robotaxis.&nbsp;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42564443/santa-came-early-with-rate-cut-but-federal-reserve-brings-coal-next-year-experts-weigh-in-on-rate-cut-feds-2025-projections">&#8216;Santa Came Early&#8217; But Fed Brings &#8216;Coal Next Year&#8217;: Experts Weigh In On Interest Rate Cut, 2025 Projections</a></li>
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Image: Shutterstock

Waymo's Autonomous Vehicles Are Safer Than Human Drivers: Report

In the current session, the stock is trading at $195.05, after a 0.22% spike. Over the past month, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) stock increased by 15.08%, and in the past year, by 38.65%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2024/1735045222_0.png" alt="Past Year Chart" />

<h3>Comparing Alphabet P/E Against Its Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Alphabet has a lower P/E than the aggregate P/E of 51.68 of the Interactive Media &amp; Services industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1735045222_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

P/E Ratio Insights for Alphabet

Billionaire investor Stanley Druckenmiller's family office Duquesne has offloaded two of Wall Street's hottest AI stocks – Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), according to a recent 13F filing.
What Happened: Druckenmiller&#8217;s Duquesne Family Office sold all of its Nvidia shares and significantly reduced its Palantir holdings by 95% during the third quarter.
This comes after Nvidia and Palantir have been on a tear this year. While the Nvidia stock surged nearly 190% in 2024 so far, Palantir shares have gained over 386% to date.
While it's not clear why Duquesne has offloaded these two red-hot AI stocks, profit booking could be one of the motives.
Nvidia and Palantir's relatively rich valuations could also have contributed to Duquesne paring its holdings – while Nvidia's trailing 12 months (TTM) price-to-earnings (PE) ratio stands at 55.21, Palantir's stands at 403.45.
Meanwhile, Druckenmiller is increasing his stake in Teva Pharmaceutical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>), a company that has seen its shares rise by 112% this year.
Teva&#8217;s strategic shift towards brand-name therapies and its resolution of opioid litigation as key factors contributing to its recent success.
Druckenmiller&#8217;s fund added 1,427,950 shares of Teva during the September-ended quarter, signaling confidence in the pharmaceutical company&#8217;s turnaround and growth potential.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42545656/bitcoin-is-no-manhattan-real-estate-peter-schiff-challenges-microstrategys-micheal-saylor-btc-doesnt-generate-any-income" target="_blank" rel="noreferrer noopener">Bitcoin Is No Manhattan Real Estate, Peter Schiff Challenges MicroStrategy's Michael Saylor: ‘BTC Doesn't Generate Any Income'</a>
Why It Matters:&nbsp;Druckenmiller, a protégé of&nbsp;George Soros, is renowned for his macroeconomic investment strategy, often making significant bets on industry trends rather than individual companies.
His recent decision to pivot from AI to pharmaceuticals marks a notable shift in his investment focus. Earlier this year, Druckenmiller <a href="https://www.benzinga.com/24/12/42659876/stanley-druckenmiller-pours-funds-into-1-trillion-company-already-trading-up-100">increased his stake</a> in&nbsp;Broadcom Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), a semiconductor giant, demonstrating his interest in high-growth sectors.
In February, <a href="https://www.benzinga.com/markets/equities/24/02/37175336/billionaire-investor-stanley-druckenmillers-firm-dumps-alphabet-amazon-boosts-investments-in-ai-">Druckenmiller&#8217;s firm divested from</a>&nbsp;Alphabet Inc.&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>) and&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) while <a href="https://www.benzinga.com/markets/equities/24/02/37175336/billionaire-investor-stanley-druckenmillers-firm-dumps-alphabet-amazon-boosts-investments-in-ai-">bolstering investments in AI leaders</a> like&nbsp;Microsoft Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and&nbsp;Nvidia.
Despite his bullish stance on AI, Druckenmiller&#8217;s recent actions suggest a <a href="https://www.benzinga.com/general/health-care/24/12/42627207/stanley-druckenmillers-top-holding-has-outperformed-its-sector-by-252">strategic realignment towards</a> the healthcare sector, particularly in companies like&nbsp;Natera Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRA#NASDAQ">NTRA</a>), which has outperformed its sector significantly.
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<li><a href="https://www.benzinga.com/24/12/42495782/crypto-market-predicted-to-surge-to-all-time-highs-by-late-2025-but-a-30-drop-in-bitcoin-prices-could-come-first" target="_blank" rel="noreferrer noopener">Crypto Market Predicted To Surge To All-Time Highs By Late 2025, But A 30% Drop In Bitcoin Prices Could Come First</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Wikimedia

NTRA

PLTR

TEVA

Stanley Druckenmiller Dumps Street's Hottest AI Stocks — Here's What The Billionaire Investor Is Betting On Next

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 has relaunched its Pixel Referral Program, offering users the chance to earn up to $500 in store credit for recommending a Pixel phone to friends and family.
What Happened: Those who have received an email to participate in the referral program are all set to join, while others can expect eligibility to expand in the future.
According to Google&#8217;s landing page, participants can distribute up to 10 referral codes to friends and family, who will receive a 10% discount on the highest-value Pixel phone in their cart. The code giver will earn a $50 Google Store credit.
See Also: <a href="https://www.benzinga.com/tech/24/12/42610669/mkbhds-smartphone-of-the-year-2024-is-here-and-apple-fans-wont-be-happy?itm_source=parsely-api">MKBHD&#8217;s Smartphone Of The Year 2024 Is Here, And Apple Fans Won&#8217;t Be Happy</a>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23231355/Screenshot-2024-12-24-at-9.43.41%E2%80%AFAM-1024x618.png" alt="" class="wp-image-705212" /><figcaption class="wp-element-caption">Source: <a href="https://store.google.com/ideas/pixel-referrals/">Google</a></figcaption></figure>
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Each referral code is single-use and cannot be applied during peak times like Black Friday. The total reward is capped at $500, paid in Google Store credit after the referred purchase surpasses the return period of 15 days.
The offer is expected to conclude on June 30, 2025. However, at the time of writing, clicking the &#8220;Refer your friends&#8221; option led to a 404 error page. It was briefly visible on the U.S. Google Store and <a href="https://www.androidauthority.com/google-pixel-referral-rewards-program-3511055/">spotted</a> by 9to5Google.
An October report by Counterpoint Research suggested that the third quarter of 2024 saw the highest-ever quarterly sales for Google Pixel.
Price Action: According to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>, Alphabet's Class A shares increased by 1.68% on Monday, finishing at $194.63, while Class C shares rose 1.57%, closing at $195.99.
Image Credits &#8211; Google
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.&nbsp;
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Want $500 In Google Store Credit? Here's What You Need To Do

OpenAI CEO Sam Altman-backed nuclear power startup Oklo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NASDAQ">OKLO</a>) received an outperform rating from Wedbush Securities, marking another milestone in its push to power the artificial intelligence revolution through advanced nuclear technology.
What Happened: Wedbush analyst Dan Ives set a $26 price target for Oklo, citing the company&#8217;s strategic position to capitalize on surging energy demands from data centers. &#8220;With the AI revolution underway, the industry will need roughly a tenfold increase in computing power by 2030,&#8221; Ives wrote in his Thursday <a href="https://www.investors.com/news/nuclear-stocks-sam-altman-oklo-data-center-deal/">note</a>, according to Investor&#8217;s Business Daily.
The rating follows Oklo&#8217;s Wednesday announcement of an agreement to supply up to 12 gigawatts of nuclear power to Switch, an AI provider and data center operator, through 2044. The company plans to develop, construct, and operate powerhouses across the United States, with its first Aurora reactor <a href="https://www.benzinga.com/insights/options/24/12/42601289/spotlight-on-oklo-analyzing-the-surge-in-options-activity">expected to be operational by 2027</a>.
See Also: <a href="https://www.benzinga.com/24/12/42664762/after-investing-nearly-14-billion-in-openai-microsoft-reportedly-moves-to-reduce-its-dependence-on-chatgpt-parent">Microsoft Invested Nearly $14 Billion In OpenAI But Now Its Reducing Its Dependence On The ChatGPT-Parent: Report</a>
Why It Matters: Oklo&#8217;s shares have surged approximately 100% in 2024, despite a 9% December decline. The stock&#8217;s momentum aligns with broader <a href="https://www.benzinga.com/partner/commodities/24/11/42188152/amazon-google-and-microsoft-bet-big-on-nuclear-ais-growing-energy-demands-fuel-new-projects">nuclear energy sector gains</a>, sparked by Constellation Energy Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) September deal to power Microsoft Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) data centers.
According to McKinsey &amp; Co., data center energy demand is projected to grow from 4% to 11-12% of total U.S. energy consumption by 2030. This surge has attracted major tech companies, with Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), 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>), and Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) all investing in small modular reactor technology.
While Oklo forecasts a full-year operating loss of $40-50 million, its customer pipeline has grown significantly, reaching approximately 2,100 megawatts by the third quarter of 2024. 
Price Action: Oklo stock closed at $22.02 on Monday, up 2.32% for the day. In after-hours trading, the stock dipped to $22.00. Year to date, Oklo shares have surged by 107.74%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Oklo has a <a href="https://www.benzinga.com/quote/OKLO/analyst-ratings">consensus price target</a> of $15.33 from 4 analysts, with a high of $26 and a low of $10. The most recent ratings from Wedbush, Citigroup, and B. Riley Securities imply a downside of 30.30% from the average target.
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23225103/Screenshot-2024-12-24-at-9.16.31%E2%80%AFAM-1024x374.png" alt="" class="wp-image-705191" style="width:627px;height:auto" /></figure>
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Short Sellers

OKLO

ORCL

Sam Altman-Backed Nuclear Power Startup Oklo Receives Outperform Rating From Wedbush Amid 'AI Revolution' Buzz

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is reportedly planning to <a href="https://www.benzinga.com/24/12/42428505/google-asks-ftc-to-kill-microsofts-monopoly-over-hosting-openai-technology-on-its-cloud-servers-report">reduce its dependence</a> on ChatGPT-maker OpenAI.
What Happened: Microsoft has been working on integrating internal and third-party artificial intelligence models into its AI product, Microsoft 365 Copilot, reported Reuters, citing sources familiar with the effort.
This move is a strategic step to diversify from the current underlying technology of OpenAI and reduce costs.
The Satya Nadella-led company is also decreasing 365 Copilot&#8217;s dependence on OpenAI due to concerns about cost and speed for enterprise users, the report noted, citing the sources.
See Also: <a href="https://www.benzinga.com/markets/24/12/42642020/steve-ballmers-bold-investment-strategy-80-of-his-portfolio-is-in-microsoft-stock-heres-why-his-keep-it-simple-approach-is-winning-big?itm_source=parsely-api">Steve Ballmer&#8217;s Winning Investment Strategy: Billionaire Says &#8216;Keep It Simple&#8217; As His Microsoft Bet Pays Off Thanks To AI Boom</a>
A Microsoft spokesperson was quoted in the report saying that OpenAI continues to be the company&#8217;s partner on frontier models. &#8220;We incorporate various models from OpenAI and Microsoft depending on the product and experience.&#8221;
OpenAI and Microsoft did not immediately respond to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga's</a> request for comments.
Microsoft 365 Copilot is reportedly yet to prove its return on investment to enterprises. The tech giant has not shared specific sales data on the number of licenses sold.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: This move mirrors those of other Microsoft business units which have altered the ways they use OpenAI models. For instance, GitHub, <a href="https://www.benzinga.com/news/23/11/35623886/microsofts-github-poised-for-growth-with-ai-tools-analyst-sees-5b-arr-potential">acquired by Microsoft</a> in 2018, added models from Anthropic and 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 in October as alternatives to OpenAI's GPT-4.
Previously it was reported that company insiders were concerned about Microsoft&#8217;s AI strategy being <a href="https://www.benzinga.com/news/24/03/37605368/is-microsoft-turning-into-it-for-openai-insiders-say-tech-giants-ai-strategy-is-overly-reliant-on-ch">heavily reliant on its partnership</a> with OpenAI.
In October, the two companies engaged in talks to decide how Microsoft's $14 billion investment in OpenAI would be <a href="https://www.benzinga.com/news/24/10/41407196/openais-for-profit-structure-adds-valuation-complexity-to-microsoft-and-other-equity-investors-repor">converted into equity</a> in the AI firm.
OpenAI plans to <a href="https://www.benzinga.com/24/12/42382569/elon-musk-asks-was-it-ever-not-a-lie-as-he-accuses-openai-of-selling-out-to-microsoft-and-betraying-its-founding-mission">remove a clause that restricts</a> Microsoft&#8217;s access to its most advanced AI models upon achieving artificial general intelligence, according to a report published in December.
Price Action: Microsoft&#8217;s stock fell 0.31% on Monday, closing at $435.25. However, year-to-date, the shares have risen by 17.36%, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
Photo via Shutterstock
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Microsoft Invested Nearly $14 Billion In OpenAI But Now Its Reducing Its Dependence On The ChatGPT-Parent: Report

Meta Platforms, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), the parent company of Facebook, Instagram, and Threads, aims to advance wearable technology by integrating displays into its Ray-Ban smart glasses by 2025, the Financial Times reports.
The $300 sunglasses, developed with eyewear giant EssilorLuxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOF#OTC">ESLOF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOY#OTC">ESLOY</a>), could feature small screens to display notifications and responses from Meta&#8217;s virtual assistant, the Financial Times <a target="_blank" href="https://www.ft.com/content/77bd9117-0a2d-4bd7-9248-4dd288f695a4" rel="noreferrer noopener">cites</a> familiar sources.
This development aims to position Meta as a frontrunner in augmented reality (AR) and wearable computing, which has the potential to replace smartphones as key computing devices.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41377833/meta-cuts-jobs-in-whatsapp-instagram-and-reality-labs-in-latest-reorganization" rel="noreferrer noopener">Meta Cuts Jobs in WhatsApp, Instagram, and Reality Labs In Latest Reorganization</a>
According to the report, the next iteration of Ray-Ban Meta glasses, expected in late 2025, will introduce display technology, marking a step toward CEO Mark Zuckerberg&#8217;s vision of lightweight AR headsets.
The move aligns with Meta&#8217;s broader strategy to integrate advanced technologies into everyday wearables, <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40699921/snap-ceo-evan-spiegel-announces-focus-on-ad-business-and-ar-amid-still-competition-from-tiktok-a" rel="noreferrer noopener">competing with companies</a> like Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
Meta is also fast-tracking the development of its prototype AR glasses, Orion, after receiving positive feedback from early testers. The glasses feature advanced silicon carbide lenses for brighter and larger imagery.
Last week, Meta launched <a target="_blank" href="https://www.benzinga.com/24/12/42524192/metas-ray-ban-smart-glasses-can-now-be-your-chef-linguist-and-dj-whats-next-therapist" rel="noreferrer noopener">three new features</a> for its Ray-Ban smart glasses, including live AI, live translations, and&nbsp;Shazam.
Meta&#8217;s smart glasses&nbsp;have emerged as a blockbuster product in 60% of Ray-Ban stores in <a target="_blank" href="https://www.benzinga.com/news/24/10/41458752/metas-smart-glasses-dominate-ray-ban-stores-ai-features-still-missing" rel="noreferrer noopener">Europe, the Middle East, and Africa</a>. Despite lacking AI features in Europe, the glasses outperformed conventional Ray-Ban models.
In mid-December, Meta CTO Andrew Bosworth <a target="_blank" href="https://about.fb.com/news/2024/12/accelerating-the-future-ai-mixed-reality-and-the-metaverse/" rel="noreferrer noopener">flagged 2025 as</a> the most significant year in the history of the Reality Labs unit behind the company&#8217;s glasses and headsets.
According to reports, the current model features sensitive in-ear speakers, cameras, and microphones.
Wall Street firms, including JMP Securities, Wedbush, Oppenheimer, and Guggenheim, hailed Meta&#8217;s <a target="_blank" href="https://www.benzinga.com/news/24/09/41054106/meta-analysts-highlight-ai-vr-advances-see-growth-pushing-it-toward-apple-like-valuation" rel="noreferrer noopener">launch of a VR headset</a> and AI updates after the Connect event in September. They expect Meta&#8217;s AI and VR innovations to be pivotal in helping it reach valuations like Apple&#8217;s.
Meta stock surged 71% year-to-date. Investors can gain exposure to the stock through Vanguard Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VV#NYSE">VV</a>) and Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Price Action: META stock is up 2.28% at $598.53 at last check Monday.
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Photo via Shutterstock

ESLOF

ESLOY

SNAP

Meta Plans Display-Equipped Ray-Ban Glasses By 2025: FT

B of A Securities analyst Justin Post maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Buy and maintains $210 price target.

Price Target

Analyst Ratings

B of A Securities Maintains Buy on Alphabet, Maintains $210 Price Target

Google-parent 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>) has laid out its remedies proposal in the high-stakes <a href="https://www.benzinga.com/quote/GOOGL/news">search distribution case</a> with the Department of Justice (DOJ). 
JPMorgan analyst Doug Anmuth notes that Google's focus on non-exclusivity and increased flexibility aligns with its strategy to limit regulatory overreach. However, investors should also turn their attention to Google's operational strength, which could be a significant driver of long-term value.
<h2 class="wp-block-heading">Alphabet&#8217;s Remedies In DOJ Case</h2>
Google's proposal, filed on Dec. 20, sidesteps the harsher measures suggested by the DOJ, such as divestiture of Chrome or Android. Instead, the company's remedies focus on removing search exclusivity in browser and Android agreements and giving partners greater flexibility. 
This should allow partners like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and mobile carriers to preload multiple search engines. This shift could create opportunities for competitors, including Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), to vie for top spots.
Anmuth expects the judge's final decision in August 2025 to strike a balance between the DOJ and Google's proposals, likely considering user impacts. Still, the timing of remedy enforcement, appeals and potential injunctions adds uncertainty to financial implications.
Read Also: <a href="https://www.benzinga.com/24/12/42641018/google-faced-intense-scrutiny-post-chatgpt-leading-up-to-declaring-code-red-but-gemini-20-and-quantum-chip-gives-investors-renewed-confidence">Google Entered &#8216;Code Red&#8217; After ChatGPT Release, But Gemini 2.0 And Quantum Chip Give Investors &#8216;Renewed Confidence,&#8217; Says This Portfolio Manager</a>
<h2 class="wp-block-heading">&#8216;Tremendous Innovation In AI&#8217;, &#8216;New Buyback&#8217; Likely</h2>
While the legal battle unfolds, Alphabet's fundamentals remain robust. Anmuth emphasizes that Alphabet is demonstrating "tremendous innovation in AI," which continues to bolster healthy Search and overall ad revenue growth.
The company's ability to "durably re-engineer the cost base and expand margins" further strengthens its financial position. Moreover, Alphabet &#8220;will likely announce a new buyback authorization at 1Q earnings,&#8221; signaling confidence in future cash flows, says Anmuth.
<h2 class="wp-block-heading">Alphabet Among JPMorgan&#8217;s 2025 Top Picks</h2>
JPMorgan sees Alphabet as &#8220;one of our 2025 Top Picks&#8221;, alongside Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>). Anmuth projects a December 2025 price target of $232, supported by Alphabet's strong 30%+ operating income margin and double-digit percentage revenue growth. 
Beyond ads, Alphabet's non-ad businesses like Cloud and YouTube subscriptions hold significant growth potential. Meanwhile, ventures like Waymo and Verily offer optionality for future value.
<h2 class="wp-block-heading">The Road Ahead For Alphabet Stock Investors</h2>
Investor focus is shifting toward how a new administration could influence final remedies due in March 2025. A potential settlement or adjustments in Apple's search agreements could also sway outcomes. 
The court case may cast a shadow though Alphabet's core strengths are intact. Despite the regulatory noise, Alphabet stock remains a compelling play for investors seeking exposure to a leader in AI and digital transformation.
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Photo via Shutterstock

Government

Regulations

Alphabet Defends DOJ Case, 'New Buyback' Likely From This '2025 Top Pick'

Fund manager Stephen Yiu of Blue Whale Growth Fund has forecasted that&nbsp;Broadcom Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) will yield substantial returns for investors by 2025, potentially surpassing AI chip heavyweight&nbsp;Nvidia Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
What Happened: Yiu said that tech giants like Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Google LLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are looking to broaden their AI chip supplier base. Despite their substantial purchases of Nvidia&#8217;s GPUs, these companies are now also creating their own custom chips for AI applications, CNBC<a href="https://www.cnbc.com/2024/12/23/-the-next-nvidia-broadcom-is-the-ai-chip-stock-to-own-in-2025-investor-says.html"> reported</a> on Monday.
Yiu sees Broadcom as&nbsp;the next Nvidia in terms&nbsp;of potential outperformance, thanks to its strong partnerships with major tech firms. 
&#8220;Nvidia's&nbsp;GPUs are very powerful, but&nbsp;at the same time also&nbsp;very expensive,&#8221; Yiu noted. &#8220;From&nbsp;Microsoft's perspective, you don't want&nbsp;to become overly dependent on&nbsp;one single supplier.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/12/42624559/warren-buffett-says-a-surge-in-people-doing-big-dumb-things-is-tied-to-historically-easy-access-to-other-peoples-money?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Warren Buffett Says A Surge In People Doing &#8216;Big Dumb Things&#8217; Is Tied To Historically Easy Access To Other People&#8217;s Money</a>
Broadcom&#8217;s year to date returns have climbed 103.42% this year, as of Monday pre-market hours, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>. It hit a market cap of over $1 trillion after announcing that its AI revenue&nbsp;tripled to $12.2 billion in&nbsp;2024. The company is working&nbsp;with three major cloud computing&nbsp;customers, Meta, Alphabet, and ByteDance, to develop custom AI chips.
Despite still holding an investment in Nvidia, Yiu has significantly cut it from nearly 10% of his fund's portfolio. He views Broadcom as a more attractive investment opportunity due to its smaller size. 
&#8220;For&nbsp;a $1 trillion company to&nbsp;grow 50% to become $1.5&nbsp;trillion is reasonable. But for&nbsp;Nvidia to do that, they&nbsp;would need to add another&nbsp;$1.5 trillion, which is a&nbsp;very big number,&#8221; he elaborated.
Why It Matters: Broadcom&#8217;s CEO Hock Tan has <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42613368/broadcom-expects-decade-long-ai-chip-boom-as-big-tech-invest-billions">expressed strong confidence</a> in the sustainability of the AI boom. Big tech companies like Google, Meta, and ByteDance are investing heavily in designing custom processors to accelerate the training and deployment of AI systems. Even OpenAI and Apple have partnered with Broadcom to develop their AI server chips, diversifying their exposure to Nvidia.
Kurv Investment Management&#8217;s CEO Howard Chan recently mentioned that chipmakers like <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42600155/exclusive-nvidia-broadcom-tipped-to-dominate-ai-compute-wave-by-kurv-ceo">Nvidia and Broadcom </a>are leading the AI wave. He noted that demand is outstripping supply in this sector, benefiting chipmakers and cloud computing service providers.
Former House Speaker Nancy Pelosi (D-Calif.), known for her active stock market investments as a member of Congress, disclosed in June that she had <a href="https://www.benzinga.com/news/24/09/40692177/whats-going-on-with-broadcom-shares-today" target="_blank" rel="noreferrer noopener">acquired call options on Broadcom. </a>These options, adjusted to a strike price of $80 after a 10-for-1 stock split, are set to expire in June 2025.
Pelosi, a widely followed Congressional trader, has drawn <a href="https://www.benzinga.com/news/24/09/40692177/whats-going-on-with-broadcom-shares-today">significant attention to her stock holdings,</a> inspiring dedicated Pelosi portfolio trackers. 
Read Next:&nbsp;
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Image via Shutterstock

Is This Nancy Pelosi's Stock Pick Set To Overtake Nvidia? AI Chip Race To Heat Up By 2025 As Meta And Microsoft Look Beyond Jensen Huang's Chip Maker, Says Expert

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>) latest advancements in artificial intelligence and quantum computing are helping the tech giant rebuild its reputation and investor confidence.
What Happened: After the release of OpenAI's ChatGPT in late 2022, Google had reportedly <a href="https://www.benzinga.com/news/22/12/30170477/chatgpt-popularity-reportedly-leads-to-google-declaring-code-red-as-sundar-pichai-increases-involvem-1">declared a "Code Red,"</a>
The company faced criticism for lagging behind rivals like Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which partnered with OpenAI to integrate ChatGPT-like capabilities into its products.
However, Google's latest developments have shifted the narrative, <a href="https://www.ft.com/content/3a3f8c9f-90fd-4e2f-94c4-b9977438e911">reported</a> Financial Times.
See Also: <a href="https://www.benzinga.com/tech/24/12/42378596/openais-chatgpt-makes-headway-in-search-threatening-googles-reign">OpenAI's ChatGPT Makes Headway In Search, Threatening Google's Reign</a>
"Alphabet has been under the microscope since ChatGPT was released," said Tiffany Hsia, a U.S. equity portfolio manager at AllianceBernstein and a Google shareholder. "Gemini 2.0 and the quantum chip give investors renewed confidence that they are one of the leading tech powerhouses."
This year, Google <a href="https://www.benzinga.com/24/12/42446686/google-introduces-ai-agent-prototype-that-can-browse-the-web">launched</a> Gemini 2.0, Veo 2 and Imagen 3 <a href="https://www.benzinga.com/tech/24/12/42609242/marques-brownlee-breaks-down-how-googles-ai-video-generator-veo2-outpaces-openais-sora">models for video and image</a> generation, along with a <a href="https://www.benzinga.com/24/12/42404763/pichai-and-musk-dream-big-about-quantum-computing-and-solar-energy-the-most-obvious-path-is-staring-at-our-eyes-literally">quantum computing breakthrough</a> with its Willow chip.
It also unveiled a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39206137/google-accelerates-ai-innovation-jpmorgan-bullish-on-alphabet-as-apple-microsoft-ri">custom AI accelerator chip</a>, the Trillium Tensor Processing Unit, to challenge Nvidia Corporation's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) dominance.
Other innovations include Project Mariner, which <a href="https://www.benzinga.com/24/12/42446686/google-introduces-ai-agent-prototype-that-can-browse-the-web">compiles research reports</a> and acts on behalf of users, and Project Astra, which enables real-time answers across text, video, and audio <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">through smart glasses</a>.
Why It Matters: Google has also faced growing competition and scrutiny. It still dominates the search market with a 90% share, but new players like OpenAI and Anthropic pose a <a href="https://www.benzinga.com/news/24/06/39426605/google-amazon-backed-openai-rival-anthropic-unveils-claude-3-5-sonnet-its-most-powerful-ai-yet">credible threat</a>.
The company also faces regulatory hurdles with the U.S. Department of Justice <a href="https://www.benzinga.com/news/legal/24/11/42053249/google-could-lose-chrome-browser-in-dojs-latest-antitrust-move">seeking to break up</a> Google's ad tech business and is challenging its dominance in search.
Last week, <a href="https://www.benzinga.com/tech/24/12/42635813/google-announces-major-layoffs-as-pichai-stresses-efficiency">Google also cut 10% of its top management</a> positions as part of a multi-year initiative to streamline operations and enhance efficiency.
Despite these challenges, Alphabet Class A and C shares have risen around 38% on a year-to-date basis.
It currently has a market capitalization of $2.351 trillion, making it the fifth most valuable company in the world following Apple, Nvidia, Microsoft and Amazon.
Price Action: Alphabet&#8217;s Class A shares rose by 1.54% on Friday, closing at $191.41, while Class C shares climbed 1.72% to end at $192.96, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
The latest analyst updates from JP Morgan, Goldman Sachs, and Baird place an average price target of $215.67 on Alphabet&#8217;s Class A shares, suggesting a potential gain of 11.87%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/GOOGL/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23014217/Screenshot-2024-12-23-at-12.12.07%E2%80%AFPM-1024x378.png" alt="" class="wp-image-703386" /></a></figure>
Similarly, Oppenheimer, Jefferies, and Pivotal Research have set an average price target of $225 for Class C shares, projecting an upside of 15.9%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/GOOG/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23014244/Screenshot-2024-12-23-at-12.12.35%E2%80%AFPM-1024x378.png" alt="" class="wp-image-703388" /></a></figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41141844/after-googles-2-7b-acquisition-of-founders-and-staff-this-ai-startup-abandons-large-language-model-p">After Google&#8217;s $2.7B Acquisition Of Founders And Staff, This AI Startup Abandons Large Language Model Plans And Shifts Focus Away From Chatbots</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Google Entered 'Code Red' After ChatGPT Release, But Gemini 2.0 And Quantum Chip Give Investors 'Renewed Confidence,' Says This Portfolio Manager

Quantum computing is emerging as a game-changing technology poised to revolutionize industries, much like how <a href="https://www.benzinga.com/general/market-summary/24/12/42569883/quantum-computing-rigetti-d-wave-skyrocket-up-to-300-in-5-sessions-after-google-unveils-willow-chip-but-analysts-urge-caution-not-every-tiktok-guitarist-is-the-next-taylor-swift" target="_blank" rel="noreferrer noopener">artificial intelligence (AI) has transformed the digital landscape</a>.
As we head toward 2025, experts predict that quantum computing will be the next major frontier in tech, unlocking unprecedented computational power and driving breakthroughs in fields such as cryptography, drug discovery, and optimization.
At the heart of quantum computing's potential is the quantum bit, or qubit, which can represent multiple states simultaneously, allowing quantum computers to process data exponentially faster than classical computers. In fact, recent advancements have already shown the immense promise of this technology.
For example, Alphabet Inc.&#8217;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>)
Quantum AI division, led by Hartmut Neven, recently unveiled its <a href="https://www.benzinga.com/tech/24/12/42397333/google-quantum-ais-new-willow-chip-can-do-in-minutes-that-supercomputers-would-take-10-septillion-years" target="_blank" rel="noreferrer noopener">latest quantum chip, Willow</a>. This chip reduces errors exponentially and completed a benchmark computation in under five minutes—an operation that would have taken one of the fastest supercomputers 10^25 years to finish.
The rise of quantum computing presents a compelling complement to AI, as it has the potential to enhance AI models and algorithms, helping unlock entirely new frontiers in science and technology. As this technology advances, it could usher in a new wave of innovation, particularly in industries reliant on complex data processing and problem-solving.
Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/24/12/42380768/quantum-computing-stocks-roundup-d-wave-rigetti-ionq-lead-the-charge-with-explosive-growth" rel="noreferrer noopener">Quantum Computing Stocks Roundup: D-Wave, Rigetti, IonQ Lead the Charge With Explosive Growth</a>
Market Growth and Investment Opportunities
The quantum computing market is set for explosive growth. According <a href="https://www.fortunebusinessinsights.com/u-s-quantum-computing-market-107727" target="_blank" rel="noreferrer noopener">to</a> Fortune Business Insights, the U.S. quantum computing market, valued at $138.2 million in 2022, is projected to skyrocket to $1.2 billion by 2030, growing at a CAGR of 31.7%. 
This surge is driven by increasing investment and initiatives like those outlined by the White House in May 2022.
For investors looking to capitalize on this booming sector, top companies include Top stocks to invest:
<ul>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</li>
<li>Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>)</li>
<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</li>
<li>International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>)</li>
<li>IonQ, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>)</li>
<li>Rigetti Computing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>)</li>
<li>Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>)</li>
<li>D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>)</li>
</ul>
Quantum-focused ETFs offer a diversified approach to investing in this transformative space. Per Rising Wave, <a target="_blank" href="https://risingwave.com/blog/top-quantum-computing-etfs-for-growth/" rel="noreferrer noopener">investing</a> in quantum computing ETFs offers a distinctive chance to participate in a technological revolution.
<ul>
<li>Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NASDAQ">QTUM</a>)</li>
<li>WisdomTree Cloud Computing Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WCLD#NASDAQ">WCLD</a>)</li>
<li>Global X Cloud Computing ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOU#NASDAQ">CLOU</a>)</li>
<li>ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>)</li>
</ul>
As quantum computing approaches mainstream adoption, it will likely become one of the most exciting areas of growth in the tech industry over the next few years.

ARKW

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