Wells Fargo raises Alphabet, Amazon, Meta price targets

Wells Fargo analyst Ben Gawrelski raised price targets for Alphabet (GOOGL) to $438 from $416, Amazon (AMZN) to $322 from $312, and Meta (META) to $835 from $767.

The price target hikes are attributed to increasing costs of building artificial intelligence, which may boost revenue for these tech giants.

The report was sourced from TheFly, a financial news aggregator.

Alphabet, Amazon, and Meta are major players in AI development, and their stock targets reflect optimism despite higher expenses.