Investors are taking a fresh look at Google, as new partnerships tied to its Gemini models help push the stock higher.
On Jan. 11, Google and Walmart (WMT) said they plan to roll out a new shopping experience inside Google’s Gemini chatbot, highlighting a potential new revenue path for Google.
Under the partnership, Gemini will surface Walmart and Sam’s Club products during relevant searches, allowing users to move from product discovery to purchase inside the Gemini app.
On Jan. 12, Google confirmed that it has entered into a multi-year collaboration with Apple (AAPL), with Apple to use Google’s Gemini models and AI technology in Apple Intelligence features, including a better Siri later in 2026, according to a joint statement.
“After careful evaluation, Apple determined Google’s AI technology provides the most capable foundation for Apple Foundation Models,” Google said.
The iPhone remains one of the most powerful consumer gateways in the world, and the Apple Google partnership reinforces Alphabet’s AI standing as competition intensifies with OpenAI and other AI rivals.
Alphabet (GOOGL), the Google parent company, reached $4 trillion valuation this week, marking another milestone for the stock. The stock is up 5.3% year-to-date already.
In 2025, Alpabet shares jumped 65.35%, the strongest performance among the Magnificent Seven tech stocks. With Gemini gaining traction among major partners, analysts are revisiting their assumptions for Google’s growth and its stock’s upside.
Bank of America analysts Justin Post and Nitin Bansal have raised the firm’s stock price target for Alphabet to $370 from $335, reiterating a buy rating, according to a research note sent to TheStreet.
“We think the Apple and Walmart deals warrant a higher multiple given increased evidence of traction for Google’s Gemini capabilities, and potential for AI-driven monetization upside,” the analysts wrote.
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Bank of America said the Apple deal is “an important endorsement for Google’s AI capabilities,” which could strengthen Gemini’s position in mobile AI and reinforce investors’ confidence in Google’s search distribution and long-term monetization on Apple devices.
For the Google-Walmart deal, the analysts believe Google could benefit as shopping traffic shifts from traditional search to agent-led experiences, and Gemini may drive higher conversion rates.
“The Agentic battle in eCommerce is taking shape, with large retailers partnering with Google and OpenAI, and Amazon building its own agentic inhouse capabilities,” the analysts wrote.
