Alphabet (GOOG) shares fell to $308.02 (-1.18%) as 10% global tariffs triggered a broad sell-off, despite a recent Wells Fargo upgrade to 'Buy' with a $387 target. The stock is currently underperforming the NASDAQ as AI disruption fears weigh on the technology sector.
- Wells Fargo cited a projected expansion of AI capacity to 35GW by 2028 as the primary driver for their bullish outlook.
- The current decline follows a previous close of $311.69, contrasting with a slight 0.20% gain in the broader market.
- Sector-wide volatility was further highlighted by a sharp 13.15% drop in IBM amid growing concerns over industry disruption.