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Despite some volatility, Alphabet (GOOGL) stock has surged 118% in the last 52 weeks. This rally is significant considering the fact that markets have become wary of mounting capital investments in the tech space. As a matter of fact, GOOGL stock has even outperformed technology giants like Meta Platforms (META), Microsoft (MSFT), and Nvidia (NVDA) over the past 12 months.
What is driving the big rally for GOOGL stock? With the market focused on artificial intelligence (AI), Alphabet seems to be making big strides in terms of innovation and shipping of AI-driven products. While Apple (AAPL) is considered to be an AI laggard by some, Alphabet is among the leaders in the race.