Bank of America Raises Alphabet Earnings Estimate Due to Stake in Anthropic
Ahead of its July 22 earnings report, Bank of America raised its Q2 EPS estimate for Alphabet (GOOGL) from $2.90 to $8.38 due to a significant unrealized gain on its stake in AI company Anthropic. The bank highlighted that the revaluation of Alphabet's 14% ownership in Anthropic—valued at approximately $135 billion as of Q2—could add around $80 billion to operating income, far exceeding expectations.
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Topics: AI Investments Earnings Stock Analysis