- Alphabet’s Google stock (GOOG) crashed 13% on Thursday, falling 40 points to $282 and approaching March 2026 lows of $273.
- Five leading Wall Street firms — JP Morgan, DA Davidson, Truist Financial, Wedbush, and Susquehanna — lowered their price targets for GOOG after the decline.
- Bank of America reportedly reiterated a valuation of Google search at a lower multiple than fossil fuel stocks, while Thursday’s crash wiped out nearly $500 billion in market value.
Alphabet’s Google stock (NASDAQ: GOOG) crashed on Thursday, falling 40 points and shedding nearly 13% on heavy selling. The stock plummeted to $282 and is now trading close to its March 2026 lows of $273.
Consequently, fears of an AI bubble are high after the company’s $9 billion cash burn. Many analysts also labeled the crash as “Alphabet’s worst day ever.”
To add salt to the wound, Bank of America reiterated its valuation of Google search at a lower multiple than fossil fuel stocks. Thursday’s crash wiped out nearly $500 billion in market value, and all focus is now on GOOG.
Meanwhile, five Wall Street firms lowered Google stock price targets: JP Morgan cut its target by $50 to $375, analyst Doug Anmuth’s previous target was $425. DA Davidson analyst Gil Luria also cut by $50 to $300, from a prior $350.
Wedbush analyst Ygal Arounian lowered GOOG’s target by $58 to $387, while Truist Financial strategist Youssef Squali trimmed it by just $10 to $410. Susquehanna analyst Shyam Patil cut GOOG the highest with a reduction of $60, bringing the new target to $400.
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