Analysts overlook disappointing Alphabet quarter, cite confidence in AI push as ChatGPT threat grows
Analysts are willing to overlook Alphabet' s disappointing quarter in lieu of its artificial intelligence push and focus on costs. Shares of the search giant fell more than 4% after the company missed Wall Street's expectations for the fourth quarter. But, analysts lauded the company's focus on artificial intelligence as it faces mounting pressures from popularized Microsoft-backed chatbot ChatGPT .
mountain GOOGL falls after earnings Analysts also cited some confidence in the company's push to reengineer its cost structure and reduce inefficiencies. JPMorgan's Anmuth said he's encouraged by Alphabet's "deeper commitment to rationalize the cost structure" and isn't expecting another round of headcount reductions.
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