Bank of America believes Alphabet has the momentum to become the world's most valuable company. Analyst Justin Post maintained a Buy rating and a $370 price target, arguing that positive sentiment around artificial intelligence is shifting in the tech giant's favor. The firm noted Alphabet stock surged 65% in 2025, outperforming both the NASDAQ and its FANG peers.

While earnings upgrades played a role, much of that growth came from multiple expansion driven by AI optimism and a favorable court ruling regarding its search business. Looking ahead, BofA identified five catalysts that could push the valuation even higher. These include better market appreciation for Alphabet's unique AI assets, stronger revenue from AI-powered search results, and continued growth in its Cloud division powered by Gemini and TPUs.

The bank also pointed to opportunities in Agentic AI and the commercial viability of its Other Bets. Post emphasized that Alphabet is well-positioned across key AI layers, from its LLM and infrastructure to consumer reach. Despite risks from rising competition and costs, BofA considers the stock a top play for AI exposure.