Apple and Google Derail California Antitrust Bill
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Should l Buy GOOG?
Source: NASDAQ.COM
- Bill Failure Reasons: Apple and Google successfully derailed California's 'Based Act' aimed at curbing the market power of big tech platforms, ultimately failing in a legislative committee vote, highlighting the influence of large corporations in policy-making.
- Lobbying Scale: Industry groups opposing the bill, such as the California Chamber of Commerce and Chamber of Progress, conducted extensive lobbying, bombarding lawmakers with warnings that the bill could reduce online service efficiency and security, showcasing the substantial resources big tech companies wield in policy debates.
- Market Impact Analysis: The bill's failure allows major platforms to maintain their market dominance, with experts noting that similar antitrust regulations in the U.S. could significantly disrupt existing business models and impact these companies' revenues.
- Support from Small Firms: Despite the bill's defeat, smaller firms like Yelp and DuckDuckGo supported the legislation in hopes of creating a fairer competitive environment, reflecting a market desire for equitable competition against large tech companies.
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Analyst Views on GOOG
Wall Street analysts forecast GOOG stock price to fall
15 Analyst Rating
14 Buy
1 Hold
0 Sell
Strong Buy
Current: 347.500
Low
255.00
Averages
336.08
High
400.00
Current: 347.500
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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