TLDR
- GOOGL traded near $346.36, up about 0.8%.
- Google launched the Pixel 11 lineup starting at $899.
- Gemini 3.7 Flash targets coding and agentic AI workflows.
- Google Cloud revenue rose 82% year over year to $24.8 billion in Q2.
- Wall Street’s average GOOGL price target stands at $422.59, about 22% above the latest price
Alphabet stock traded around $346.36 on Friday, up about 0.8%, as investors assessed Google’s latest Pixel 11 smartphone launch and the release of Gemini 3.7 Flash. GOOGL remains below its 52-week high while Wall Street analysts continue to maintain price targets above the current share price.
Source: KnockOutStocks
The latest product releases arrive as Alphabet increases spending on artificial intelligence infrastructure. The company spent $44.9 billion on capital expenditures during the second quarter and raised its full-year 2026 CapEx forecast to between $195 billion and $205 billion, mainly to expand computing capacity for AI and cloud demand.
Google Launches Pixel 11 Starting at $899
Google unveiled the Pixel 11, Pixel 11 Pro and Pixel 11 Pro XL, with prices starting at $899, $1,099 and $1,299, respectively. Pre-orders have opened, while the three smartphones are scheduled to reach stores on August 20.
The Pixel 11 lineup uses Google’s new Tensor G6 processor and integrates the latest Gemini Nano model for on-device AI functions. The standard Pixel 11 also receives a new 48-megapixel main camera sensor, while Tensor G6 supports up to 30x Super Zoom through the phone’s telephoto system.
Google has positioned AI deeper across its hardware products as it competes for smartphone customers while expanding Gemini usage. The new devices also come with seven years of operating system, security and Pixel Drop updates, while the Pro versions include six months of Google AI Pro for eligible customers.
Gemini 3.7 Flash Targets Coding and AI Agents
Google also released Gemini 3.7 Flash on August 13, only three weeks after introducing Gemini 3.6 Flash. The new model focuses on coding, software engineering, web development and multi-step agent workflows.
Gemini 3.7 Flash scored 43.6% on FrontierCode 1.1 Main compared with 34.4% for Gemini 3.6 Flash. DeepSWE v1.1 performance increased to 65.3% from 49%, while its WebDev Arena Elo score reached 1,588 compared with 1,538 for the previous model.
Google introduced temporary pricing of $0.75 per million input tokens and $3.75 per million output tokens through the end of 2026. The company said those rates are half the original Gemini 3.6 Flash pricing. Gemini Spark is also moving to the new model for Google AI Pro and Ultra subscribers.
Alphabet’s broader AI spending continues alongside rapid Cloud growth. Google Cloud revenue rose 82% year over year to $24.8 billion in Q2, while its backlog reached $514 billion as demand increased for AI infrastructure and enterprise products.
GOOGL Stock Forecast Points Toward $422
Wall Street forecasts remain above Alphabet’s latest trading level. Based on 30 analysts, the average 12-month GOOGL stock price target stands at $422.59, with forecasts ranging from $350 to $465. Twenty-five analysts carry Buy ratings and five maintain Hold ratings, with no Sell ratings in that group.
The average $422.59 target represents roughly 22% upside from the latest $346.36 price, while the $465 high target would place Alphabet about 34% above current levels. The $350 low forecast sits only slightly above the present share price.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
