- Alphabet stock rose after a U.S. court issued limited penalties in the government’s antitrust case against Google.
- The judge ruled that Google does not need to sell its Chrome browser.
- Google can continue paying Apple to remain the default search engine, though the court may review this decision later.
- Alphabet shares climbed 8.4% to $229.05, hitting a record high.
- CNN analysts predict that Alphabet stock could increase to $270.00, reflecting potential continued growth.
On Wednesday, Alphabet stock surged following a federal court ruling in the U.S. Department of Justice’s antitrust case against Google. The court issued a set of limited measures aimed at addressing concerns over Google’s control of the internet search market.
The judge decided that Google would not be required to sell its Chrome web browser, a key product in its software lineup. In addition, the court ruled that Google may continue to pay Apple so that Google Search remains the default option on Apple devices. However, the ruling notes this could be reviewed at a later date.
During the day’s trading, Alphabet shares rose 8.4%, closing at $229.05, according to Dow Jones Market Data. The stock reached a new all-time high, and several financial analysts are now raising their price targets. “While in theory Google is barred from ‘exclusive deals’ for search, this now lays the groundwork for Apple to continue its deal and ultimately likely double down on more AI related partnership with Google Gemini down the road,” Wedbush analyst Daniel Ives said in a report.
Alphabet stock is currently trading near the top of its 52-week range and above its long-term average price. Analysts at CNN have given Alphabet a rating of 8 out of 10 and expect the stock could reach $270.00, based on recent forecasts. This projection would mean a 17% increase from current prices.
With the recent gains, Google shares have climbed 21% since the start of 2025, outperforming other major technology stocks such as MSFT and AAPL. For additional business news, see: Klarna IPO to Raise $1.27B as KLAR Stock Debut Values Firm at $14B.
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