Alphabet(US:GOOGL) 智通财经网·2025-09-05 12:37Core Viewpoint - The recent antitrust ruling has alleviated significant risks surrounding Google, allowing its stock price to rise significantly, with a gain of over 9% following the decision [1]. Group 1: Antitrust Ruling Impact - The U.S. District Court ruled that Google does not need to divest its Chrome browser or Android operating system, which is seen as a favorable outcome for the company [1]. - Google is allowed to continue paying Apple to keep its search as the default option on Apple devices, although the court retains the right to revisit this arrangement in the future [1]. - The ruling mandates Google to share some search index data with competitors and prohibits exclusive distribution contracts related to its search and AI products [1]. Group 2: Market Performance and Growth Potential - Following the ruling, Google's stock has increased by over 20% since the announcement of its second-quarter earnings, making it one of the top performers in the Nasdaq 100 index this year [5]. - The demand for Google's AI products is boosting sales and enhancing investor confidence in its ability to compete against rivals like OpenAI [5]. - Analysts expect Google to maintain its leading position in traditional search due to new AI features and the rapid expansion of its Gemini application [5]. Group 3: Valuation and Analyst Sentiment - Google's current market capitalization stands at $2.81 trillion, just $0.19 trillion away from the $3 trillion mark, a level only reached by Apple, Microsoft, and Nvidia [5]. - The expected price-to-earnings ratio for Google is approximately 21, compared to 26 for the Nasdaq 100 index, indicating potential for growth [5]. - Despite positive sentiment, some analysts express caution regarding the sustainability of the stock's momentum, noting that the relative strength index has reached levels indicating overbought conditions [8].