"We anticipate material uncertainty over the outcome of the trial to serve as a near- to medium-term overhang on GOOGL shares," said Evercore ISI analyst Mark Mahaney in a report. "Based on extensive discussions with investors over the last month, we believe the market is anticipating the final resolution to involve a material loss of search query and revenue."
As of now, whether the internet giant is a buy depends on fundamental and technical factors as well as each investor's own goals, strategy and risk tolerance.
Google stock has gained 19% in 2024. But Alphabet stock pulled back sharply along with most the Magnificent Seven amid a market rotation out of the technology sector and artificial intelligence plays.
A federal judge on Aug. 5 ruled that Google has violated antitrust laws by engaging in unfair business tactics to dominate the internet search advertising market.
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