Airlines, hotels, retailers fear being left out in Google's search changes
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 24 2024
0mins
Should l Buy GOOG?
Source: Yahoo Finance
- Lobbying Groups' Concerns: Lobbying groups representing airlines, hotels, and retailers are urging EU tech regulators to consider their views in Google's compliance with new tech rules.
- EU's Digital Markets Act (DMA): The DMA imposes rules on Google and other tech giants to enhance user choice and competition, but industry groups fear revenue impacts from the adjustments.
- Joint Letter to EU Officials: The lobbying groups sent a letter to EU antitrust and industry chiefs expressing concerns about potential discrimination and revenue depletion due to preferential treatment of online intermediaries.
- Google's Response: Google, under investigation for possible DMA breaches, highlighted changes favoring intermediaries in search results but did not immediately comment on the industry groups' concerns.
- Industry Groups' Perspective: The groups are worried that the investigation focuses on fair treatment of third-party services without considering European businesses offering services on Google.
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Analyst Views on GOOG
Wall Street analysts forecast GOOG stock price to rise
15 Analyst Rating
14 Buy
1 Hold
0 Sell
Strong Buy
Current: 294.900
Low
255.00
Averages
336.08
High
400.00
Current: 294.900
Low
255.00
Averages
336.08
High
400.00
About GOOG
Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, collaboration tools, and other services for enterprise customers. Its Other Bets segment is engaged in the sale of healthcare-related services and Internet services. Its Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini for Google Cloud; cybersecurity, and data and analytics. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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