Google Launches Gemini 4 Argon, Will It Break Through Wall Street's $420 Target Price?

▲ Alphabet (Alphabet, GOOGL), Google, U.S. Stock Market/AI Generated Image ©

Google has demonstrated its technological superiority by officially unveiling its new AI model, Gemini 4 Argon, and major Wall Street investment banks have uniformly set target stock prices exceeding $400, signaling a full-fledged stock re-evaluation rally.

According to cryptocurrency media outlet Finbold on October 2 (local time), JPMorgan analyst Doug Anmuth maintained an Overweight (Buy) rating on Alphabet (GOOGL) in an investment memo dated October 1, setting a 12-month target price of $420. This represents an additional upside potential of 24.17% compared to the recent closing price of $338.24. Anmuth emphasized the technical achievements of Gemini 4 Argon in benchmark tests against major competing platforms, stating that it will be a decisive moment for Google to re-establish its position as an AI frontier and leading company.

Other major Wall Street financial institutions also joined the buying spree. Justin Patterson of KeyBanc lowered his previous target from $445 slightly to $435 (28.61% upside potential), while Brent Thill of Jefferies maintained his previous target of $445. Ken Gawrelski of Wells Fargo set $411 (21.51% upside potential), and Brad Erickson of RBC Capital set $425, respectively. According to financial data platform TipRanks, Wall Street analysts have given Google a Strong Buy rating, projecting an average increase of 26.50% to reach $427.88 over the next 12 months.

However, the market's initial reaction remains cautious. Alphabet's stock price closed at $340.92 on September 29, the day before the launch, then rose 0.93% on the launch day, but soon fell back 1.70% to close at $338.24. Despite achieving a technical milestone, the stock price has essentially shown a sideways trend based on the recent 30-day chart.

The overall stock performance of big tech companies has also been sluggish compared to market indices. Year-to-date (YTD), Google rose 7.33%, Amazon (AMZN) 9.59%, Microsoft (MSFT) 8.43%, and Meta (META) 11.61%, all falling short of the S&P 500 index's 11.78% gain over the same period. In contrast, Nvidia (NVDA), which surged 22.25% since the beginning of the year, was the only large-cap tech stock to significantly outperform the market, showing a differentiated trend.

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