Google's Stock Fell on Its Best I/O in Years. Here's Why BofA Is Still Buying

In brief

• Bank of America reiterates a “buy” on Alphabet with a $430 target—10.9% upside from $387.66.
• The analysts cite AI Overviews at 2.5 billion users, AI Mode at 1 billion, and Gemini doubling from 400 million to 900 million monthly active users in a year.
• The report has some nuance: the stock fell 2% on I/O day, free cash flow is projected to drop ~$29 billion in 2026 due to a capex surge…