Alphabet Stocks Rise 1.85% With Search Monetization Behind Wells Fargo's Target Cut

This article first appeared on GuruFocus. Alphabet, Google's search and cloud parent (NASDAQ:GOOG), has an AI challenge: turning more queries into more advertising dollars. Shares rose 1.85% to $285.01 at 9:40 a.m. ET on November 2, even as Wells Fargo lowered its price target to $365 from $371 while keeping an Overweight rating. Search remains the bigger revenue engine, generating more than twice Google Cloud's quarterly sales. Warning! GuruFocus has detected 4 Warning Signs with PLTR. Is GOOG fairly valued? Test your thesis with our free DCF calculator. Wells Fargo pins much of the search slowdown on AI Overviews and expects that pressure to last another two quarters. That remains the firm's assessment.