India, June 22 -- Alphabet Inc Class C Stock Down Today: The class C stocks of Alphabet Inc. (GOOG) were subjected to heavy selling activity on June 22 as they fell by 3.77% while GOOG underperformed relative to the overall performance of the Software & IT Services sector, where it fell 0.25%, as well as compared to many of its other large-cap peers in the tech industry. This drop made Alphabet move farther away from its record high of $408.61 hit on May 18. The move surprised many investors because Alphabet's underlying business continues to post strong revenue and cloud growth however, Wall Street is increasingly focused on the costs and risks associated with the company's ambitious artificial intelligence expansion.

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