Google Scores Major Win in Monopoly Case, Pre-Market Share Price Soars Nearly 6%, Poised to Reach New All-Time High at Open
2 week ago / Read about 0 minute
Author:小编   

Google's pre-market share price surged by almost 6%, signaling a potential new all-time high at the market open. Earlier, the U.S. District Court for the District of Columbia handed down a decision finding that Google does not constitute a monopoly in the online search sector, thereby dismissing prosecutors' demands that its parent company sell Chrome. Furthermore, the court ruled that Google is not required to divest Android and can continue paying fees to platforms such as Apple to maintain its status as the default search engine. However, the court did mandate that Google share data with competitors to foster greater competition in the online search market. The market broadly views this ruling as having minimal impact on Google's core advertising business, alleviating investors' concerns about the potential risk of a structural breakup facing the company. As a result, investment banks have subsequently revised their target prices for Google upwards.