Meta is reorganizing its artificial intelligence teams to enhance the development and deployment of new AI products and features. This move is part of a broader strategy to remain competitive against rivals like Google (GOOGL) and Microsoft-backed OpenAI, as well as companies in China such as ByteDance. An internal memo from Meta, shared by chief product officer Chris Cox, outlines the new structure, which divides the efforts into two focused teams: one for AI products led by Connor Hayes, and another for AGI Foundations, co-headed by Ahmad Al-Dahle and Amir Frenkel. Despite the reorganization, no executives are leaving and there are no job cuts, although certain leaders have been reassigned from different divisions within the company.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Alphabet Inc (GOOG, Financial) is $201.56 with a high estimate of $225.00 and a low estimate of $185.00. The average target implies an upside of 16.62% from the current price of $172.83. More detailed estimate data can be found on the Alphabet Inc (GOOG) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Alphabet Inc's (GOOG, Financial) average brokerage recommendation is currently 1.6, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Alphabet Inc (GOOG, Financial) in one year is $198.21, suggesting a upside of 14.68% from the current price of $172.83. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Alphabet Inc (GOOG) Summary page.
