DA Davidson Cuts Google Stock Price Target After 10% Crash

Alphabet’s Google stock (NASDAQ: GOOG) has plunged close to 10% in a month shedding nearly 33 points since June. It is among the least performing Magnificent Seven stocks this quarter, even after Alphabet delivered robust Q2 revenues in its latest earnings call. The slump came after the company announced an increase in capital expenditure to build its AI infrastructure. The spending went from $180 billion to $215 billion for 2026, which is the primary cause for Wall Street to get worried about the company’s overspending.

Google stock fell to a low of $317 on Friday, but ended the day’s trade at $319. Fears are high that GOOG could fall below the $300 level; institutional giants have paused buying and could take an entry position after it plunged to the $290 range. The search engine giant was at $283 before the previous quarterly earnings report that sent its price to $408 after the revenues. Chances are high that GOOG could fall to the $280 zone again, as the capex spending has engulfed Wall Street.

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