DOJ Denied Forced Sale of Google's AdX; Rosenblatt Sets $410 PT; GOOG Raises Debt for AI
GOOG sits 50% above its 52-week low of $226.76.
Summary
A federal judge denied the DOJ's request to force Alphabet to sell its AdX ad-tech unit, accepting most behavioral remedies and sealing details for 14 days. This removes a major overhang on Google's advertising business. Separately, Rosenblatt reiterated a Buy rating with a $410 price target, and Alphabet issued corporate bonds to fund AI expansion, increasing leverage but providing cash for AI projects. YouTube will allow personalized alcohol ads where legal starting October 30, and Alphabet will fund PG&E's SHARE virtual power plant in California. The AdX ruling is the most significant development, as a forced sale would have materially impacted Google's ad revenue.
At the time of this announcement, GOOG was trading at $339.67 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.2T. The 52-week trading range was $226.76 to $404.47. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.