The host of CNBC’s “Mad Money.” Jim Cramer advises investors to hold them Alphabet GOOGLE GOOG shares into their portfolios on Monday, indicating the sustained success of the company’s search business and YouTube.
What happened: Cramer initially intended to offload some shares from the CNBC Investing Club’s Charitable Trust due to potential threats to Google’s search business from new artificial intelligence query systems. However, positive analyst reports on the tech giant have allayed fears about him, CNBC reported.
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“We won’t be selling for the charitable foundation anymore… There’s just too much going on, like almost every other mega cap,” Cramer said. He pointed out that Alphabet’s various business strategies and recovery potential justify its trillion-dollar valuation.
Cramer also highlighted a Bloomberg report showing YouTube’s strong influence on younger demographics. The article referenced a Pew Research survey that revealed that 71% of teens use the platform daily, surpassing TikTok’s 58% engagement rate.
“You can understand why any consumer products company would want to advertise there,” he said. Those are the best years to reach teenagers; you have to be in front of them when they make their life decisions about things like toothpaste, razors or cereal.”
Because matter: Alphabet has made great strides lately. The tech giant is reportedly planning to integrate its AI chatbot, Gemini, into the Google app on Android devices, offering an alternative to the standalone Gemini app.
Despite internal criticism and AI challenges, Alphabet once again secured the top spot on the “America’s Most Innovative Companies 2024” list.
Additionally, Alphabet is reportedly considering a bold move into the realm of online marketing software by exploring the acquisition of HubSpot Inc. HUBSa company valued at $35 billion.
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