Alphabet shares soar 8% after Google gets favorable antitrust ruling in landmark case

Core Viewpoint - A federal judge ruled in favor of Google, allowing it to retain control over its Chrome browser and Android operating system, which has led to a significant increase in Alphabet's stock value and sparked criticism from antitrust advocates [1][5][16]. Group 1: Stock Market Reaction - Alphabet shares surged by 8% in early trading, adding tens of billions in market value within hours following the ruling [2][9]. - Apple also experienced a nearly 4% increase in stock price, benefiting from the ruling that preserves a $20 billion revenue stream from Google for making its search engine the default on iPhones [4]. Group 2: Legal Ruling Details - US District Judge Amit Mehta rejected the Justice Department's demands for Google to divest its Chrome browser and Android operating system, stating that forced sales would be excessive [5][6]. - The judge did impose restrictions on exclusive contracts that block competitors and mandated Google to share some search data with rivals, which was viewed as a more lenient approach [6][9]. Group 3: Reactions from Stakeholders - Critics, including Barry Lynn from the Open Markets Institute, condemned the ruling as a mere slap on the wrist for Google, suggesting it undermines antitrust enforcement [2][7]. - Supporters of the ruling, such as business-backed groups, argued that it reflects the need for antitrust laws to adapt to rapid advancements in AI technology [19]. Group 4: Future Implications - Google is focusing on its Gemini artificial intelligence platform to drive future growth, despite ongoing scrutiny regarding its market dominance [14]. - The ruling does not conclude the legal challenges facing Google, as a separate ad-tech monopoly case is still pending [14].