Alphabet shares reached a new record high on Monday, surpassing the $1,000 benchmark just a week after Amazon accomplished the feat. Investors placed bets that Google’s core search and emerging artificial intelligence technology will help maintain the company’s dominance over its Silicon Valley rivals. The stock price surged after Pacific Crest securities analyst Andy Hargreaves advised investors in a research note to get out of Apple and invest in Alphabet, which he sees as having a great risk/reward profile and more potential upside.
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