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Google stock hammered after DOJ calls for Chrome sale [Yahoo! Finance]
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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business, including stopping its practice of making itself the default search option on its Pixel smartphones and forcing the company to sell its flagship Chrome browser. (Source: Fortune.com) The court ruled that Google had illegally monopolized the search market with tens of billions of dollars in payments to ensure it remained the default search engine on smartphones and web browsers. (Source: Fortune.com) Google's chief legal officer, Kent Walker, said the proposed remedies would endanger Americans' security and privacy, as well as chill the company's investments in artificial intelligence, and that the DOJ's approach would result in 'unprecedented government overreach'. (Source: Fortune.com) The ruling could potentially help Google's bottom line, as the company would no longer have to pay tens of billions of dollars in 'traffic acquisition costs', which totaled $40 billion in the first nine months of 2024, according to Baron's. (Source: Fortune.com) A theoretical sale of
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