After Apple (AAPL) revealed that its search on the internet browser for the device for the first time last month, Jim Lebenthal told CNBC that his “trend” was to hold Alphabet Inc. (Goog) stock despite negative news.
Lebenthal, a partner at Cerity Partners, frequently appears on CNBC.
Lebenthal's reaction to the news
Arguing yesterday that Google had a low rating before the stock fell 7.5%, Lebenthal said his “trend” was to hold his stock in the wake of the news.
However, investors added that they would like to further analyze the information before making a final decision.
He also said about two years ago, Alphabet Inc. (Goog) shares had fallen sharply after the company's Gemini AI tools “misidentified” the object.
Suggesting that there were some similarities between the news and the situation two years ago yesterday, Lebenthal noted that despite concerns about the “threat of competition” in the wake of previous incidents, Google's financial results remain strong.
Recent price action for Alphabet Inc. (Goog) Stocks
Inventories rose 17% last month, but have sunk 29% over the past three months.
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Disclosure: None. This article was originally published on Insider Monkey