Google-parent Alphabet (GOOGL) on Tuesday unveiled a revamped U.S. shopping website with improved personalization using artificial intelligence tools. Google stock rose a fraction amid the news.
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According to a Google blog, AI tools also help in showing the most relevant products. The redesigned Google Shopping website includes deal-finding tools like price comparison, insights and tracking.
“We’ve paired the 45 billion product listings in Google’s Shopping Graph with Gemini (AI) models to transform the online shopping experience with a new, personalized shopping home,” Google said in the blog.
Struggles Versus Amazon.com
“Shopping is personal — that’s why the new Google Shopping home page has a personalized feed to inspire you with shoppable products and videos based on your preferences,” the Google blog added.
On the stock market today, Google stock rose a fraction to 165.63 in morning trades.
Google has struggled for years to mount a serious challenge to Amazon.com (AMZN) in online shopping.
In 2020, Google largely gave up on providing a shopping destination that handles transactions. Instead, it focused on providing search engine results. Google garners advertising revenue from driving traffic to sellers’ websites, not its own online marketplace.
And, some Amazon Prime members may search on Google before returning to Amazon to buy.
Google Stock: Technical Ratings
Meanwhile, Google stock has gained over 18% in 2024.
Alphabet stock has found support around the 50-day moving average following a rebound in recent sessions. The stock has yet to offer a new buy point.
Also, the Relative Strength Rating of Google stock currently stands at only 44 out of a best-possible 99, according to IBD Stock Checkup. The best stocks tend to have an RS rating of 80 or better. The relative strength line has tumbled.
Google stock holds an Accumulation/Distribution Rating of D. That institutional ownership rating analyzes price and volume changes in a stock over the past 13 weeks of trading. A+ signifies heavy institutional buying; E means heavy selling. Think of a C grade as neutral.
Further, shares hold an IBD Composite Rating of 83 out of a best possible 99. The best growth stocks have a Composite Rating of 90 or better.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
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