Investors should buy Alphabet stock as soaring interest in ChatGPT shows no sign of negatively impacting Google's search business, Bank of America says

• The overnight success of ChatGPT has yet to negatively impact Google's business, according to Bank of America.
• BofA highlighted that Google's downloads remain stable despite the surge in ChatGPT traffic and Bing downloads.
• The bank reiterated its "Buy" rating of Alphabet and $125 price target, representing 40% upside.

Ever since OpenAI unleashed ChatGPT late last year, investors have grown concerned that the chatbot could steal market share from Alphabet's Google search business.