Alphabet Class C ( (GOOG) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Alphabet Class C, the parent company of Google, is facing a significant antitrust case that could lead to the separation of its Google Ad Manager unit. This legal challenge comes as a federal court in Virginia prepares to hear arguments that Google holds a monopoly in helping publishers sell ads. In response, Google has been making strategic moves, such as engaging with top advertising agencies, possibly to prepare Google Ad Manager to operate independently if required. This potential split could reshape the advertising landscape, especially as the unit struggles to adapt to new markets like streaming TV and mobile apps, with a reported 7% revenue decline from 2022 to 2024.
Despite these challenges, Wall Street analysts remain optimistic about Alphabet Class C’s stock, maintaining a Strong Buy consensus rating. The average price target of $217.25 per share suggests a modest upside potential of 1.7%. As the antitrust case unfolds, investors will be closely watching how Alphabet navigates these legal hurdles and what impact it may have on its stock performance.