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Alphabet is falling on a big spending forecast increase. What analysts are saying

Source: cnbc.com cnbc.com
News Snapshot:

Wall Street analysts had mixed reactions to Alphabet's latest financial results, with several lowering their price targets on the Google parent due to its plans to increase its artificial intelligence spending. However, shops on the Street seem to agree that there is still a lot to like about the stock. Its top line beat analyst expectations, with cloud revenue surging more than 80% from the year-earlier period. But while Alphabet is making more money, it plans to spend more too, according to its executives. The YouTube owner said it now expects capital expenditures for the year to fall in the…

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