TECH - Jim Cramer Says Alphabet Should Follow Apple's Lead And Cut Ineffective Projects: 'Time Google...Start Focusing On Actually Making Some Money' | Benzinga
Jim Cramer, the host of CNBC’s “Mad Money,” has suggested that Google’s parent company Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) should streamline its business operations, following the example of Apple Inc (NASDAQ:AAPL).
What Happened: Cramer expressed his concerns about Alphabet’s diverse business ventures and the lack of transparency during a recent episode of “Mad Money.” He believes that a more focused approach to business could potentially boost Alphabet’s stock performance, reported CNBC on Monday.
"It's time for Google, Alphabet — whatever, I don't even care — to stop running as a skunkworks for all sorts of ideas that may or may not work and start focusing on actually making some money," he said.
"Otherwise, let's just say: I smell a skunk."
He pointed out that Alphabet’s stock took a hit after the company announced a pause in the image generation feature of its artificial intelligence model, Gemini. This move raised concerns among investors about the potential impact of AI blunders on Alphabet’s core search business.
Cramer, who has been a long-time supporter of Alphabet, criticized the company for being a “black box” with numerous unprofitable divisions. He also ...