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BTCC / BTCC Square / Global Cryptocurrency /
Wells Fargo Backs Alphabet Despite AI Capex Skepticism

Wells Fargo Backs Alphabet Despite AI Capex Skepticism

Global Cryptocurrency
Author:
Global Cryptocurrency
Release Time:
2026-06-07 13:32:02
0
BTCCSquare news:

Alphabet Inc.'s shares languish near $369, a stark retreat from May's $408 peak as macroeconomic headwinds buffet tech stocks. The 28% rally from January lows now threatens to unravel, with $300 looming as critical support.

Wells Fargo breaks ranks, issuing a 'strong buy' rating and $400+ price target. Analyst Ken Gawrelski cites undervalued AI infrastructure bets, though markets remain wary of the $185 billion capex plan. Oil volatility and US-Iran tensions compound sector-wide pressure.

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