Alphabet’s Google stock (NASDAQ: GOOG) has been on a relentless decline this month, as the majority of the trading sessions have ended in the red. Read here to know why Google stock has been crashing in the charts every day. It fell from a yearly high of $408 in mid-May, never to reclaim the $400 floor zone. Traders have been skeptical about investing in GOOG, as the downside is only getting deeper.
Analyst Joseph Bonner from Argus Research wrote in a note to clients that Google stock could bottom out. Taking an entry position at the $340 to $330 level or below could be beneficial to investors. GOOG is among the most promising stocks that is facing a temporary blip. The analyst provided a bullish price target, indicating that a double-digit upside swing is imminent. Therefore, taking an entry position in the search giant could be rewarding in the coming months.
Also Read: Why is Google Stock Falling Every Day?
Google Stock Price Prediction: What’s the Target?
Joseph Bonner from Argus Research wrote in a note to clients on Tuesday that Google stock could reach a high of $440 next. That’s a profit of nearly $98 per share, which is stellar gains. The price prediction estimates that GOOG could approximately rise close to 28% from its current price. Therefore, an investment of $1,000 could turn into $1,280+ if the price prediction from Argus Research turns out to be accurate.
That’s decent gains, as not every asset in the stock market is capable of delivering this much profit. The crowd is mostly following the money through AI, and Alphabet remains at the top of the table. Alphabet has positioned itself in the top 5 AI-related tech companies, and Google’s stock could benefit from the ambitious projects. The company is all set to roll out the next-gen technology that can change the way the world is as we know it.