We are at a key point for the markets and we do not deny that from a graphic point of view, despite the strong rise in recent months, this trend could continue. In light of the latest news, we are now going to study the future for Google from a graphic point of view.
Last news
According to Bloomberg News, Apple is close to a deal to integrate technology from OpenAI, creator of ChatGPT, into the upcoming iOS 18 platform. This collaboration would allow Apple to include a popular chatbot in new Artificial Intelligence features that will be unveiled next month. Discussions with OpenAI have become more intense since April, but it is uncertain whether the deal will be finalized anytime soon.
During the Worldwide Developers Conference in June, Apple is expected to announce significant developments in AI, processing some new functions in data centers with custom chips. News of negotiations between Apple and OpenAI caused shares of Alphabet, Google’s parent company, to drop, which had previously held discussions with Apple over a license to its Gemini chatbot without reaching an agreement.
Analysts at Barclays suggest that even with the implementation of Gemini, improved Siri could reduce Google’s (GOOGL) search revenue, as Siri’s new AI features could decrease the use of typing search on the iPhone . This could negatively impact Google’s revenues, estimated at just under $120 billion this year, although there is currently no evidence of a loss of market share in web searches.
Analysts warn that concerns about AI taking over critical search functions could grow in the second half of the year, changing how users interact with devices and reducing app navigation and typing.
Analysts’ ratings for the two companies listed on Wall Street
This is how it appears from the Marketscreener sites.
Apple
Accumulate average recommendation
Number of analysts 45
Last closing price 192.4 USD
Average target price $204.9
Difference / Average Target +6.53%
Alphabet
Average Buy recommendation
Number of analysts 59
Last closing price 177.8 USD
Average target price $191
Difference / Average Target +7.37%
What future for Google?
Year-to-date shares have hit a low of 130.665 and a high of 178.77. In recent days the price has moved in the 177.85 area. The short and long term trend according to our models is bullish. The first chart support is identified in the 164 area. As long as this level holds, the rise could continue.
Apple shares, on the other hand, have marked a low of 163.85 and a high of 195.86 since the beginning of the year. In recent days the price has been around 192 dollars. The short and long term trend according to our models is bullish. The first graphic support is identified in the 168.88 area. As long as this level holds, the rise could continue.
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