GOOGL - This Is the Cheapest AI Stock I Know
2024-05-01 09:00:00 ET
When it comes to artificial intelligence (AI) , Baidu (NASDAQ: BIDU) isn't a name near the top of most investor lists. It could be that the Chinese search engine leader toils away at the other end of the world in a controversial country that raises red flags to many global market enthusiasts.
Right now, there's a groundswell of support for Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) as an AI stock. As a tech leader, Google's parent company has the financial means to invest in next-gen trends. As the world's top dog in search and digital advertising, it's also armed with the data and means to measure its progress better than anyone else. Suddenly, the market is overlooking the stumbles with Alphabet's AI chatbot .
If Baidu is the Google of China, why isn't it also wearing an AI crown? It's certainly a cheaper way to the throne. Alphabet is trading at a reasonable 22 times this year's projected earnings. Baidu's forward multiple is now just below 10.
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This Is the Cheapest AI Stock I Know