"The "preliminary remedies" released by the District Court were far better for the company than the firm had expected, the analyst tells investors in a research note. Needham estimates that this decision will save Alphabet$5B-$10B per year in lower revenue share fees paid to Apple () and other distributors, allow Apple to work with Gemini, Google's LLM, and will lower the risk that structural remedies are applied in the next DOJ vs. Alphabet trial - the AdTech case, the firm estimates."
"Needham raised the firm's price target on Alphabet () to $260 from $220 and keeps a Buy rating on the shares. The "preliminary remedies" released by the District Court were far better for the company than the firm had expected, the analyst tells investors in a research note. Needham estimates that this decision will save Alphabet$5B-$10B per year in lower revenue share fees paid to Apple () and"
"other distributors, allow Apple to work with Gemini, Google's LLM, and will lower the risk that structural remedies are applied in the next DOJ vs. Alphabet trial - the AdTech case, the firm estimates. Published first on TheFly - the ultimate source for real-time, market-moving breaking financial news. Try Now>>"
Needham raised its price target on Alphabet to $260 from $220 and maintained a Buy rating. The firm assessed the District Court’s "preliminary remedies" as substantially more favorable to Alphabet than expected. Needham estimated the court decision could save Alphabet $5 billion to $10 billion annually through lower revenue-share fees paid to Apple and other distributors. The firm also concluded the remedies would permit Apple to work with Gemini, Google’s large language model, and would reduce the likelihood of structural remedies in the upcoming DOJ AdTech trial. The improved legal outlook supported the higher valuation and sustained Buy recommendation.
Read at TipRanks Financial
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