We're adding this AI giant back to the portfolio, recognizing things have changed

December 29, 2025

TL;DR

Initiating a position in Alphabet (GOOGL) with 95 shares at approximately $313, representing a 0.76% portfolio weighting.
Previously exited Alphabet due to concerns about AI competition, market share risk, and DOJ-led breakup pressures.
Alphabet has since launched Gemini 3, developed on custom silicon in partnership with Broadcom, potentially driving margin expansion and new revenue.
Favorable court rulings protected Alphabet from spinning off Chrome and allowed the continuation of its partnership with Apple for search placement.
Apple's pursuit of third-party LLMs for Siri upgrades may benefit Google due to existing arrangements.
Gemini's valuation is considered undervalued compared to OpenAI, suggesting significant upside potential.
New rating for Alphabet is buy-equivalent 1 with a $350 price target.

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