{"id":128794,"date":"2024-11-22T12:56:51","date_gmt":"2024-11-22T05:56:51","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=128794"},"modified":"2024-11-22T12:56:51","modified_gmt":"2024-11-22T05:56:51","slug":"google-stock-plunges-5-after-doj-calls-for-chrome-sale","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=128794","title":{"rendered":"Google stock plunges 5% after DOJ calls for Chrome sale"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-cy=\"article-content\">\n<p>The Justice Department is looking to break up one of America\u2019s most powerful companies following a court ruling in September that found Google violated antitrust law. Shares of <a href=\"https:\/\/fortune.com\/company\/alphabet\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/company\/alphabet\/\" rel=\"noopener\">Google<\/a>-parent Alphabet plunged over 5% Thursday after prosecutors outlined <a href=\"https:\/\/fortune.com\/2024\/11\/19\/doj-will-push-google-sell-chrome-break-search-monopoly\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/11\/19\/doj-will-push-google-sell-chrome-break-search-monopoly\/\" data-type=\"link\" data-id=\"https:\/\/fortune.com\/2024\/11\/19\/doj-will-push-google-sell-chrome-break-search-monopoly\/\" rel=\"noopener\">proposed remedies<\/a> that would significantly alter how the search giant conducts its business.<\/p>\n<div class=\"paywall\">\n<p>In September, U.S. District Judge Amit Mehta ruled Google had <a href=\"https:\/\/fortune.com\/2024\/08\/05\/google-antitrust-lawsuit-department-of-justice\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/08\/05\/google-antitrust-lawsuit-department-of-justice\/\" data-type=\"link\" data-id=\"https:\/\/fortune.com\/2024\/08\/05\/google-antitrust-lawsuit-department-of-justice\/\" rel=\"noopener\">illegally monopolized<\/a> the search market with tens of billions of dollars in payments to ensure it remained the default <a href=\"https:\/\/fortune.com\/2024\/05\/02\/google-antitrust-trial-monopoly-search\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/05\/02\/google-antitrust-trial-monopoly-search\/\" data-type=\"link\" data-id=\"https:\/\/fortune.com\/2024\/05\/02\/google-antitrust-trial-monopoly-search\/\" rel=\"noopener\">search engine<\/a> on smartphones and web browsers. <a href=\"https:\/\/fortune.com\/company\/overstock-com\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/company\/overstock-com\/\" rel=\"noopener\">Beyond<\/a> calling for a stop to those practices, the DOJ also wants to stop Google from making itself the default search option on its line of Pixel smartphones. Most notably, however, the agency also called on the judge to force the company to sell its flagship Chrome browser. \u00a0<\/p>\n<p>Alphabet\u2019s Class C shares closed the day down 4.5% and then dropped further in after-hours trading.<\/p>\n<p>In response, chief legal officer Kent Walker said the proposed remedies would endanger Americans\u2019 security and privacy, as well as chill the company\u2019s investments in artificial intelligence.<\/p>\n<p>\u201cDOJ\u2019s approach would result in unprecedented government overreach that would harm American consumers, developers, and small businesses\u2014and jeopardize America\u2019s global economic and technological leadership at precisely the moment it\u2019s needed most,\u201d he said in a <a href=\"https:\/\/blog.google\/outreach-initiatives\/public-policy\/doj-search-remedies-nov-2024\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/blog.google\/outreach-initiatives\/public-policy\/doj-search-remedies-nov-2024\/\" rel=\"noopener\" data-type=\"link\" data-id=\"https:\/\/blog.google\/outreach-initiatives\/public-policy\/doj-search-remedies-nov-2024\/\">statement<\/a> posted on the company\u2019s website.<\/p>\n<p>Ironically, the ruling on the anticompetitive payments, which Google terms \u201ctraffic acquisition costs,\u201d could potentially help the company\u2019s bottom line. Those expenses totaled $40 billion in the first nine months of 2024, according to Baron\u2019s, or nearly 40% of the company\u2019s cost of revenue. Taking those off the table would immediately boost gross margins.<\/p>\n<p>But owning Chrome, the world\u2019s most popular web browser, helps power Google\u2019s ads business, the company\u2019s largest source of revenue. It\u2019s also how the company has introduced many consumers to its main AI offering, Gemini, which currently summarizes results to queries and may eventually follow users around the web. <\/p>\n<p>However, a theoretical sale could prove difficult to execute. As <em>Bloomberg <\/em>noted, most of the companies who could afford the potential deal, including the likes of <a href=\"https:\/\/fortune.com\/company\/amazon-com\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/company\/amazon-com\/\" rel=\"noopener\">Amazon<\/a>, are already under antirust scrutiny themselves. <\/p>\n<p>Regardless of whether Judge Mehta approves the remedies\u2014a judgement is expected in August 2025\u2014Google says it plans to appeal. It\u2019s unclear how the incoming <a href=\"https:\/\/fortune.com\/2024\/11\/21\/elon-musk-government-rto-mandate-purge-bureaucrats-taxpayer-savings-doge\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/11\/21\/elon-musk-government-rto-mandate-purge-bureaucrats-taxpayer-savings-doge\/\" data-type=\"link\" data-id=\"https:\/\/fortune.com\/2024\/11\/21\/elon-musk-government-rto-mandate-purge-bureaucrats-taxpayer-savings-doge\/\" rel=\"noopener\">Trump administration<\/a> will view the case, given that it started during the President-elect\u2019s first term and then continued under Biden.<\/p>\n<\/div>\n<div class=\"sc-30bdb254-0 kxagCu article\" data-cy=\"subscriptionPlea\"><b>How many degrees of separation are you from the globe&#8217;s most powerful business leaders? <\/b>Explore who made our brand-new list of the <a href=\"https:\/\/fortune.com\/ranking\/most-powerful-people\/?&amp;itm_source=fortune&amp;itm_medium=article_tout\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/ranking\/most-powerful-people\/?&amp;itm_source=fortune&amp;itm_medium=article_tout\" rel=\"noopener\">100 Most Powerful People in Business<\/a>. Plus, learn about the metrics we used to make it.<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/fortune.com\/2024\/11\/21\/google-stock-plunges-doj-chrome\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Justice Department is looking to break up one of America\u2019s most powerful companies following a court ruling in September that found Google violated antitrust law. Shares of Google-parent Alphabet &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=128794\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-128794","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/128794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128794"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/128794\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}