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Alphabet (GOOG 0.84%) (GOOGL 1.06%) is often considered a safe blue-chip tech stock for long-term investors, but its shares have declined by nearly 20% over the past 12 months due to macroeconomic challenges for its advertising and cloud businesses. OpenAI’s ChatGPT chatbot, Microsoft’s investment in it, and Google’s dependence on Apple are all red flags for Alphabet’s future. Google is countering ChatGPT with its own generative AI chatbot, Bard, but it is unclear if this will be enough to address the long-term threats. Samsung’s 19% of the global smartphone market in the fourth quarter of 2022 also poses a challenge for Alphabet.
