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4 big analyst cuts: Alphabet stock slashed on AI uncertainty By

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IntroductionBy Davit KirakosyanHere is your Pro Recap of the biggest analyst cut you may have missed since yeste ...

By Davit Kirakosyan

Here is Huanma Forex official website app downloadyour Pro Recap of the biggest analyst cut you may have missed since yesterday: downgrades for Alphabet, First Solar, SoFi Technologies, and Mid-America Apartment Communities.

4 big analyst cuts: Alphabet stock slashed on AI uncertainty By

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Alphabet downgraded to Hold due to uncertainty surrounding the AI transition

Loop Capital downgraded Alphabet (NASDAQ:) to Hold from Buy with a price target of $125.00, as InvestingPro reported in real time. The downgrade move comes after the shares rally following the company’s successful I/O event that “opened some eyes to the company’s strong position in AI.”

The downgrade is due to concerns about the company's ability to maintain its dominant position during a technology transformation. The firm considers search competition from Microsoft (NASDAQ:) a lesser threat than the risk of displacement from behavioral change as users interact more with AI assistants to find information. Furthermore, the firm believes long-term structural uncertainties surrounding the AI transition may make investors nervous and limit the stock's valuation.

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First Solar downgraded after a 26% stock jump

Wolfe Research downgraded First Solar (NASDAQ:) to Peerperform from Outperform on fundamental valuation.

The stock gained 26% on Friday on constructive Treasury guidance on domestic content. The move was much larger than expected. According to the firm, First Solar stock has more than fully recovered from the sell-off post-earnings and is at a new 15-year high.

Shares fell more than 4% yesterday.

2 more downgrades

Wedbush downgraded SoFi Technologies (NASDAQ:) to Underperform from Neutral and cut its price target to $2.50 from $5.00. Shares fell nearly 5% yesterday.

Wolfe Research downgraded (NYSE:) to Underperform from Peerperform with a price target of $137.00 on expected growth deceleration.

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