The technology giant Alphabet, commonly known as Google, is climbing to its new all-time high, rising by a staggering 8% in today's session. The company's market capitalization increased by $220 billion just today! The court ruling allows Google to maintain its dominance in the market.
In 2024, the U.S. Department of Justice filed an antitrust lawsuit against the California-based technology company. It pointed to a series of unethical anti-consumer practices and monopolistic tendencies. After nearly a year-long battle, the verdict was reached.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
- Google will not be forced to split its business into several entities, allowing it to retain the economies of scale.
- The court also allowed the company to keep payments to Apple to ensure default status in the iOS system for the Google browser.
In return, the court obligated Alphabet to a series of concessions.
- The company will now be required to share collected data with competitors.
- A ban on exclusive agreements for Google will come into effect.
The Department of Justice considered the verdict as its victory, but Alphabet and Apple investors think otherwise. The companies' valuations are experiencing strong growth, and there is euphoria among shareholders following the verdict. It is worth remembering that these two companies account for 15% of the Nasdaq 100 index. Such a significant increase can pull the entire index up and contribute to a change in sentiment.
Source: Xstation
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
