We’re concerned about Alphabet’s ad-based business model on two fronts

Jakub Porzycki | Nurphoto | Getty Images

It’s Alphabet (GOOGL) versus Microsoft (MSFT) in artificial intelligence — and after decades of owning search, Google finds itself looking over its shoulder. While the Club owns both stocks, we’re most concerned about Alphabet at the moment as it plays catch up in the AI arms race and faces a government antitrust lawsuit over its online advertising dominance.

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