Alphabet's Antitrust Victory: Judge Rules in Favor, Stock Soars
Alphabet shares climbed 6% after a U.S. judge spared the company from a breakup in an antitrust case. The ruling permits Google to retain control over its Chrome browser and Android system and allows payments to partners like Apple. This boosts optimism about Alphabet's future partnerships and valuation.
Alphabet, Google's parent company, saw its stock surge 6% following a favorable antitrust ruling by U.S. federal judge Amit Mehta. The decision allows Alphabet to maintain control over its Chrome browser and Android operating system but limits exclusive contracts with device makers and browser developers.
This ruling is seen as a significant win for Alphabet, as it preserves its ability to make payments to partners like Apple, a practice crucial for its dominance in the online search market. Analysts hailed the outcome as particularly advantageous despite Alphabet being found guilty of monopolistic practices.
The judgment, which lifts a major regulatory cloud over the company, may deepen partnerships, including potentially integrating Gemini AI into future iPhones. The favorable decision for Alphabet shares, rising nearly 11.7% this year, contrasts with the 2020 U.S. government suit alleging illegal monopoly maintenance.
(With inputs from agencies.)
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