Alphabet, the Google matrix, shoots more than 7% on Wednesday on Wednesday to mark new historical maximums. The new level never before reached of $ 227 per share arrives after being known on the eve, at the end of the market, which the US federal justice has proved the company at a key point of a judicial procedure against it. Specifically, the firm may maintain the fundamental foundation of its empire.
Concerned about the possible monopolistic character of Google in an area as sensitive as that of internet searches worldwide, the Department of Justice and a group of states had brought Alphabet to the courts. Among the requests made by the American accusations and prosecutor smartphone that use more than 2.5 billion people worldwide.
Although federal judge Amit Mehta did recognize that Alphabet had incurred monopolistic practices and forces the company to take, in the fundamental part of the lawsuit, that of Chrome and Android, sentenced in favor of the company. “The plaintiffs exceeded when requesting the forced divestment of these key assets, which Google did not use to impose illegal restrictions,” Mehta said in the fault known on Tuesday.
Another company directly benefited on Wednesday by this sentence is Apple. By allowing Alphabet to continue paying the company of the iconic apple and other companies so that their browsers use Google by default, the titles of the firm of Cupertino rebound about 3.4%.
Both the market and analysts celebrate the judicial resolution. “This result eliminates great legal uncertainty that was hitting the company and points to the courts are more for the work of adopting practical resolutions than using burned land tactics,” he said in statements to Reuters Matt Britzman, an analyst at the investment firm Hargreaves Lansdown.
For his part, Ben Barringer, Head of Technological Analysis at Quilter Cheviot, an institutional shareholder present in both Apple and Alphabet, values that Alphabet’s flow of money towards Apple can follow. “Google payments are a huge source of income for the technological giant and the fact that they continue are great relief in what is being a turbulent year for Apple,” he says.
The pending cause in Brussels
Also on Tuesday it transpired that the European Commission of the definitive conclusions on an antimonopoly investigation into Alphabet business that has been running for four years.
In 2023, under the then competition curator, Margrethe Vestager, a preliminary opinion was issued in which Brussels considered that “only the mandatory divestment on the part of Google on the part of its services would solve its competition problems”, as requested by the United States Department of Justice and that now the US federal justice has denied.
While last Friday the Reuters agency said that Teresa Ribera, currently responsible for competition of the European Union, had chosen to impose a fine to Google instead of forcing her to divide her business, this extreme has not been confirmed or still denied. On the other hand, what is a fact is that, although the publication of the conclusions were scheduled for Monday, they have not yet arrived.
