Alphabet (GOOG) shares reached a new 52-week high on May 18. The annual Google I/O developer conference is scheduled for May 19-20.
Anticipation for major artificial intelligence announcements fueled the rally. Analysts believe these updates will reinforce Alphabet's leadership in the sector.
Bank of America reiterated a Buy rating for the company. Analysts identified the event as a catalyst for potential AI surprises.
Investors expect demonstrations of the Gemini 3 AI model. The event will likely showcase AI integration with Android 17. The conference may also feature new AI-powered hardware.