Alphabet

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<p class="has-drop-cap">The U.S. Justice Department is considering recommending that Google-owner Alphabet (NASDAQ: GOOG) <a aria-label="be forced to sell off parts of its operations (opens in a new tab)" href="https://www.bloomberg.com/news/articles/2024-10-09/us-says-it-s-weighing-google-breakup-as-remedy-in-monopoly-case" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">be forced to sell off parts of its operations</a> in what has been called a “<a aria-label="landmark antitrust case (opens in a new tab)" href="https://www.ft.com/content/f6e84608-e0e5-48c5-a0eb-dde7675fb608" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">landmark antitrust case</a>.” <br><br>This move is a potential remedy to address the tech giant’s alleged monopolization of the online search market. The case, currently in its remedy phase, follows a ruling that Google violated antitrust laws in both online search and search text ads markets.</p>
<h3 id="google-and-doj-s-antitrust-strategy">Google and DoJ’s Antitrust Strategy</h3>
<p>The Justice Department filed a court document on Tuesday, October 8, 2024, outlining potential remedies against Google. Judge Amit Mehta, who is overseeing the case, is expected to hold a trial on proposed remedies in spring 2025, with a final decision anticipated by August 2025. <br><br>The DoJ is weighing both behavioral and structural remedies, including forcing Google to provide access to underlying data used for search results and AI products.</p>
<p>At the heart of DoJ’s case is the belief that Google gained unfair advantages through illegal distribution agreements with other tech companies, <a href="https://apnews.com/article/google-antitrust-ad-tech-virginia-opening-7a19f525287f782609a5316b1fdb08f0" target="_blank" aria-label="making its search engine the default option (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">making its search engine the default option</a> on smartphones and web browsers. <br><br>The department aims to prevent Google from leveraging products like Chrome, Play, and Android to advantage its search and search-related products over competitors.</p>
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<h3 id="a-google-breakup-will-be-a-historical-event-for-antitrust-enforcement">A Google Breakup Will Be a Historical Event for Antitrust Enforcement</h3>
<p>If successful, this would mark the first company breakup for illegal monopolization since the <a href="https://en.wikipedia.org/wiki/United_States_v._Microsoft_Corp." target="_blank" aria-label="unsuccessful attempt to dismantle Microsoft (NASDAQ: MSFT) two decades ago (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">unsuccessful attempt to dismantle Microsoft (NASDAQ: MSFT) two decades ago</a>. The case represents a significant shift in antitrust enforcement against big tech companies and could set a precedent for future actions in the industry.</p>
<p>As news of the potential breakup spread, Google’s stock (GOOG) showed signs of volatility. In <a href="https://tokenist.com/investing/how-to-trade-after-hours/" rel="noopener noreferrer nofollow" class="deco-link">pre-market trading</a> as of 5:33 AM EDT, GOOG was down 1.25% to $163.63, following a previous close of $165.70 at the time of writing.</p>
<p>Despite the current dip, the stock has shown strong performance over the past year, with a 19.73% return, though still underperforming <a href="https://tokenist.com/investing/spx-vs-spy/" rel="noopener noreferrer nofollow" class="deco-link">the S&amp;P 500’s</a> 33.48% gain. <br><br>Alphabet Inc., Google’s parent company, maintains a substantial market capitalization of $2.031 trillion, with a <a href="https://tokenist.com/investing/p-e-ratio/" class="deco-link" rel="noopener noreferrer nofollow">P/E ratio</a> of 23.77 and earnings per share of $6.98.</p>
<p>Analyst recommendations remain mixed, with some rating it as “Outperform” or “Strong Buy,” and an average price target of $198.85, suggesting potential upside despite the ongoing antitrust concerns.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/alphabet-stock-goog-dips-in-premarket-amid-antitrust-breakup-threat/">Alphabet Stock (GOOG) Dips in Premarket Amid Antitrust Breakup Threat</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Alphabet Stock (GOOG) Dips in Premarket Amid Antitrust Breakup Threat

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