Alphabet (GOOGL) Stock Down on New Medical Technology
NEW YORK (TheStreet) -- Alphabet (GOOGL) - Get Report stock is down 0.72% to $706.16 today as the company begins a venture with the U.K. government's National Health Service to train its technology to detect eye defects and possibly prevent vision loss.
Google DeepMind, the company's London-based artificial intelligence division, will use artificial intelligence technology to read 1 million anonymous eye scans and identify any defects in the subjects that could lead to blindness.
The goal of the project is to give doctors a digitized tool to read eye-scan tests and identify any issues in patients much faster.
Earlier detection of eye disorders related to health issues like diabetes and macular degeneration could cut back on vision loss for much of the affected population, the company said in a statement released on Tuesday.
Alphabet, based in Mountain View, CA, acquired DeepMind in 2014. DeepMind specializes in machine learning.
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Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B+.
The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels.
Although the company may harbor some minor weaknesses,TheStreet Ratings feels they are unlikely to have a significant impact on results.
You can view the full analysis from the report here: GOOGL
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.