Alphabet (GOOGL) Stock Slides Following UK Lawsuit
Alphabet Stock (GOOGL) is trending downward on Wednesday after a new lawsuit was filed against the Google developer in the UK. Google was hit with a multi-billion-pound class action lawsuit accusing the tech giant of abusing its dominance in the online search market.
The 5 billion (roughly $6.6 billion) claim, filed on behalf of British businesses that have used Google’s search advertising services since 2011, alleges that Google leveraged its “near-total control” to inflate ad prices by limiting competition in the sector. The legal complaint, led by competition law scholar Or Brook and represented by Geradin Partners, claims Google paid Apple (AAPL) billions to remain the default search engine on Safari. It also says the company struck deals with Android phone makers to pre-install Google Search and Chrome, further locking out rivals.
Google Stock Down Following Lawsuit Filing
Alphabet (GOOGL) stock is down following the news of the lawsuit, with GOOGL shares down 2% in 24 hours. In the last month, the stock has also been down 7.6%. The company called the lawsuit speculative and opportunistic, and insists people use Google because it’s helpful, not because they’re forced to.
Also Read: Stocks and Dollar Crash Together—History Says ‘Tread Carefully’ in This Rare Situation
There is an increasing number of concerns regarding Alphabet’s AI spending. Moreover, its falling market share may not justify its $75 billion in planned capital expenditure. The stock has fallen as much as 10% after the arrival of increased Trump tariffs. Subsequently, shares have fallen more than 9% over the last 30 days.
Overall, the tech stock industry is a promising one, even in an uncertain economy. While tariffs certainly cause concerns, the demand for advancements in technology is just as strong. Therefore, big tech stocks like Alphabet (GOOGL) could still see solid numbers in 2025 like last year. Only the return of tariffs or a tough ruling in the Google lawsuit could send Alphabet stock off its bullish path this year.
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Alphabet (GOOGL) Stock Slides Following UK Lawsuit
Alphabet Stock (GOOGL) is trending downward on Wednesday after a new lawsuit was filed against the Google developer in the UK. Google was hit with a multi-billion-pound class action lawsuit accusing the tech giant of abusing its dominance in the online search market.
The 5 billion (roughly $6.6 billion) claim, filed on behalf of British businesses that have used Google’s search advertising services since 2011, alleges that Google leveraged its “near-total control” to inflate ad prices by limiting competition in the sector. The legal complaint, led by competition law scholar Or Brook and represented by Geradin Partners, claims Google paid Apple (AAPL) billions to remain the default search engine on Safari. It also says the company struck deals with Android phone makers to pre-install Google Search and Chrome, further locking out rivals.
Google Stock Down Following Lawsuit Filing
Alphabet (GOOGL) stock is down following the news of the lawsuit, with GOOGL shares down 2% in 24 hours. In the last month, the stock has also been down 7.6%. The company called the lawsuit speculative and opportunistic, and insists people use Google because it’s helpful, not because they’re forced to.
Also Read: Stocks and Dollar Crash Together—History Says ‘Tread Carefully’ in This Rare Situation
There is an increasing number of concerns regarding Alphabet’s AI spending. Moreover, its falling market share may not justify its $75 billion in planned capital expenditure. The stock has fallen as much as 10% after the arrival of increased Trump tariffs. Subsequently, shares have fallen more than 9% over the last 30 days.
Overall, the tech stock industry is a promising one, even in an uncertain economy. While tariffs certainly cause concerns, the demand for advancements in technology is just as strong. Therefore, big tech stocks like Alphabet (GOOGL) could still see solid numbers in 2025 like last year. Only the return of tariffs or a tough ruling in the Google lawsuit could send Alphabet stock off its bullish path this year.
Read More
Alphabet (GOOGL) Or META: Which Stock Is a Better Buy in 2025?