Google stock’s all-time high is back in focus right now, and for good reason. Alphabet hit an intraday peak of $408.61 on May 18, 2026, the highest price the stock has ever traded at, and set a record closing all-time high of $402.62 on May 13. The stock gained 25% so far in 2026, and also added 65% in 2025. At the time of writing, Google stock trades near $391, a bit off its highs, but Wall Street’s Alphabet stock price prediction stays broadly bullish. 73 analysts tracked by S&P Global carry a consensus Strong Buy, with an average 12-month Google stock price target of $430.00.
Source: CNN Business
Google I/O 2026 AI Reveal Drives Google Stock ATH Hopes
Gemini 3.5 Pro Gets Delayed: Google Stock All-Time High Still Possible?
Google I/O 2026 this year turned out to be a bit of a mixed bag for the crowd in the room. The most anticipated product, Gemini 3.5 Pro, did not show up at the event. Many attendees and developers had expected it to debut at I/O, given that it is Google’s most powerful model in active development. The audience reportedly groaned out loud at the news. CEO Sundar Pichai addressed the room directly. Pichai stated:
“I know you can’t wait to get your hands on it. Give us until next month to get it to you.”
He also mentioned the model already shows “great improvements” over prior versions, though no specific launch date came with that. The Google stock all-time high conversation, however, did not slow down because of it.
Also Read: Google Stock Price Target: Wall Street Reacts to I/O 2026 Event
What Google Did Ship at I/O
Google I/O 2026 still delivered a full set of new AI products. Gemini 3.5 Flash arrived as a low-cost engine for high-volume AI agents. Gemini Omni came as an all-in-one multimodal model focused on conversational video generation, targeting OpenAI’s GPT-4o directly. Google also rolled out Spark, an ambient AI agent that runs continuously in the background without waiting for a user prompt. And on pricing, Google cut the AI Ultra subscription from $250 to $200, and added a new $100 entry-level tier. Pichai had this to say about the cost story:
“What’s amazing about Gemini 3.5 Flash is how it delivers frontier level capabilities at less than half the price of comparable frontier models. You’ve heard that many companies are already blowing through their annual token budgets, and it’s only May. If companies used a mix of Flash and other frontier models, they could save a lot of money.”
He also put a concrete number on it. Top Google Cloud customers processing around one trillion tokens a day could save over $1 billion a year by shifting 80% of workloads to Gemini 3.5 Flash. That argument targets enterprise procurement teams directly, and it also ties into why the Gemini AI Google stock rally looks more grounded than speculative right now. The Gemini app also crossed 900 million monthly users, up from 750 million at end of 2025.
Analysts Still Back the Google Stock All-Time High Case
The financial picture also supports the Google stock ATH story. Alphabet’s Q1 2026 results showed total revenue of $110.08B, up 7.34% year over year, and net income of $62.58B, a jump of nearly 79%. Earnings per share came in at $5.11, up about 82% on an annual basis and well above estimates. Those numbers gave investors a solid reason to hold through the heavy AI infrastructure spending that keeps coming up as a concern.
On the Alphabet stock price prediction, Mizuho’s Lloyd Walmsley raised his Google stock price target to $460 and had this to say:
“We believe consensus estimates continue to significantly under-model Google Cloud revenue and operating income potential over the next two years.”
His model calls for 70% Google Cloud revenue growth in 2026, well above the Street consensus of 58%. He also wrote that Alphabet shifted “from AI Loser to AI Winner and deserves a premium.” Loop Capital also moved its call to $490 from $355. The high end of the Google stock price target range sits at $550 at the time of writing. Bank of America’s Justin Post noted ahead of I/O that longer-term investors would focus on Gemini improvements and Google’s positioning for agentic AI leadership. The IBD Composite Rating for Google stock sits at a perfect 99 out of 99, with an Accumulation/Distribution Rating of A, reflecting strong institutional buying activity.