US EditionAlphabet shares surge after court rules against a breakup
- On Tuesday, Judge Amit Mehta ruled that Google will not be broken up but must share search index and user data with competitors in the U.S.
- The ruling follows a 2020 DOJ antitrust lawsuit accusing Google of illegally monopolizing search through exclusive device and browser deals.
- The court barred exclusive contracts and required limited data sharing to foster competition and support emerging AI rivals like ChatGPT.
- Alphabet shares surged 8% after hours and Apple rose 4%, with analyst Matt Britzman calling it a removal of a significant legal overhang.
- The verdict preserves Google's core business and partnership with Apple while potentially benefiting AI development but likely only marginally boosting AI competition.
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63 Articles
Why Shares of Alphabet (Google) Are Soaring Today @themotleyfool #stocks $GOOGL $GOOG
Key PointsA U.S. federal judge ruled that Google will not have to divest Chrome.The judge also said that Google can continue to pay Apple to make Chrome its default browser on many of its devices.However, Google can no longer do exclusive contracts and will need to provide more data to the public.10 stocks we like better than Alphabet › Both Class A and C shares of Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) popped about 8.4%, as of 10:48 a.m. ET tod…
Stock traders are cheering Alphabet's antitrust win, and Apple is riding the wave
Justin Sullivan/Getty ImagesA US judge ruled against breaking up Google, handing the company a big victory.The news sent the stock of parent company Alphabet soaring on Wednesday.Apple also rallied on speculation it will get a similarly positive result in antitrust court.The move: After a difficult day for tech stocks yesterday, Google parent Alphabet soared as much as 9% on Wednesday, while Apple climbed nearly 4% at intraday highs.Alphabet is …
At Wall Street, investors are reassured that the tech giant will be able to retain its Chrome browser.
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