Alphabet's Stock Downgraded Twice in One Week Amid AI Concerns.

Analysts at Bernstein and UBS have downgraded their ratings for Google parent Alphabet's stock, citing concerns about the company's near-term prospects. UBS analyst Lloyd Walmsley downgraded Alphabet from a Buy to Neutral, while Bernstein's Mark Shmulik rerated the stock from Outperform to Market-perform. The analysts pointed to potential headwinds for the company's search advertising business, including the rollout of Google's experimental generative AI-powered search platform and increased competition from Meta and Amazon in the digital advertising space. Alphabet is also facing regulatory challenges, including calls to break up its massive advertising business.