Alphabet The shares increased 9.14% on Wednesday when investors saw the result of the Google antimonopoly case as widely favorable for the technological giant.
Wednesday’s profit added $ 234 billion to the company’s market capitalization. Apple Closed 3.81% higher, adding $ 130 billion to its limit.
The United States Department of Justice had proposed a kind of rupture of Google, which included uninverting its Chrome browser, in an antitrust case that began in September 2023.
Although it was discovered that Google had an illegal monopoly in its central Internet search market last year, the United States district judge, Amit Mehta, ruled against the most serious consequences proposed by the Department of Justice.
Google will not have to disin Chrome. The company can also make payments to companies to preload products, but cannot have exclusive contracts that condition payments or licenses.
That means that Google can still pay Apple the billions of dollars that it has to be the predetermined search engine on iPhones.
“This is a monstrous victory for Cupertino and for Google it is a failure of home runs that eliminates a great cantilever in action,” said Daniel Iives, head of global technology research at Wedbush Securities, in a note on Tuesday that refers to Apple’s headquarters in California.
Google has faced a growing competition to its main search business of Perplexity and Openai. But so far the company has defended the challenges with its advertising business still growing.
Google has set his hopes of becoming an important artificial intelligence player in Gemini, his set of AI and chatbot models that meets the same name.
“After today’s announcement, we are increasingly constructive in longer -term durability of Google’s search business and we are increasing our estimates accordingly,” said Iives, adding that it now has a new target price of $ 245 for Alphabet shares.
The ruling also means that Google will not have to uninvert the Android operating system that develops.
Android is seen as a key tool for Google to increase the number of users for Gemini since around 70% of smartphones execute the operating system worldwide, which gives the giant of US technology an existing basis of users.
Google and Apple day stock chart.
– Jennifer Elias de CNBC contributed to this report.
