Alphabet Stock Slips to $348-$357 Range as Google Launches Three Gemini AI Models

Alphabet shares traded in the $348-$357 range as investors weighed the company's Q2 earnings expectations and new artificial intelligence models. Wall Street expects Alphabet to report approximately $116.98 billion in Q2 revenue, with focus on whether Google's AI products can support stronger cloud and advertising growth.

Google released three new Gemini models: Gemini 3.6 Flash for coding and enterprise tasks, Gemini 3.5 Flash Cyber for cybersecurity, and Gemini 3.5 Flash-Lite for lower-cost AI agents. According to Google, the models use 17% fewer tokens than earlier versions. Wells Fargo analyst Ken Gawrelski raised Alphabet's price target to $438 from $416, implying approximately 25% upside. Alphabet is also developing a new AI server chip estimated to be six to ten times more efficient than existing systems.