Alphabet Faces Longest Losing Streak Since 2015 Amid Gemini Model Delays
Alphabet's stock is experiencing its longest losing streak since 2015 as CEO Sundar Pichai delayed the promised flagship Gemini 3.5 Pro model, instead releasing a lower-tier version called Gemini 3.8 Flash in June 2026. The delay has raised concerns among investors about Alphabet’s execution and product roadmap timing. Despite strong financial performance—Q2 revenue rose to $119.8 billion with Google Cloud growing by 82% year-over-year—the stock remains under pressure due to the model misstep, alongside rising capital expenditures and a suspension of buybacks in Q2 2026. Additionally, token prices have halved from their peak, which has bolstered Alphabet’s integrated AI monetization strategy but also highlighted its reliance on cost-effective models. The situation is compounded by recent legal developments where a judge ruled that Google does not need to sell its ad exchange, removing an overhang and reinforcing the company's ability to leverage AI across multiple platforms. However, these positives have yet to offset investor disappointment from delayed flagship product launches.
Tickers: $GOOG
Topics: Alphabet Gemini AI models GOOG stock performance Sundar Pichai