Google's stock is approaching new all-time highs following significant AI announcements at the 2026 I/O conference. Alphabet shares reached an intraday peak of $408.61 on May 18, 2026, and closed at $402.62 on May 13, marking a 25% increase year-to-date. Despite the delayed launch of the anticipated Gemini 3.5 Pro, Google's stock remains strong, buoyed by the introduction of new AI products like Gemini 3.5 Flash and Gemini Omni. The company's first-quarter fiscal year 2026 earnings report showed a 7.34% increase in total revenue to $110.08 billion, with net profit soaring nearly 79% to $62.58 billion. Analysts remain optimistic, with all 73 tracked by S&P Global issuing a "Strong Buy" rating and an average 12-month price target of $430. Mizuho Securities and Loop Capital have raised their target prices to $460 and $490, respectively, citing Google's transformation into an "AI winner."