Google-owner Alphabet Inc (NASDAQ:GOOG) is set for a steady start when dealings get underway after shares in the search engine giant hit a new record high overnight.
Valued now at US$1.91 trillion, shares in the group were tipped to ease slightly in first dealings after closing overnight at US$153.65.
Alphabet is not the only one of the 'Magnificent Seven' tech stocks to be sitting at or close to all-time highs as investors have poured money into the sector since the start of 2024 on hopes that AI-based innovation will drive sales even more.
Can Google-parent Alphabet deliver an AI-powered surprise?
Like Alphabet, Microsoft Corporation (NASDAQ:MSFT), Facebook-owner Meta Platforms Inc (NASDAQ:FB) and chip maker Nvidia Corporation (NASDAQ:NVDA) have all been on a tear since the start of the year.
Alphabet releases results next week with the focus to be firmly on how AI is being used to enhance its search engine dominance.