1 Beaten-Down, Trillion-Dollar Artificial Intelligence (AI) Stock to Buy on the Dip

Group 1 - Alphabet's shares have decreased by 12% this year, influenced by broader market volatility and internal challenges, leading to potential short-term stock volatility [1][2] - Concerns are rising regarding Alphabet's dominance in the search engine market due to the emergence of AI-powered search engines, with Apple considering AI functionalities for its Safari browser [4][5] - Despite initial fears surrounding AI's impact on Alphabet, the company has launched competitive AI products and remains a leader in providing AI services through its cloud offerings [5][6][8] Group 2 - Alphabet's strong brand and approximately 90% market share in the search engine sector position it well to maintain leadership, even with the potential rise of AI-based search engines [8] - The company has multiple growth avenues beyond its advertising business, including cloud computing and streaming services, which are expected to reduce reliance on its primary revenue source [9][10] - Google Cloud and YouTube together are projected to generate an annual run rate of $110 billion, representing about 31% of the company's anticipated $350 billion revenue for 2024 [11]