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Google may break up as the US DOJ weighs options

The US Department of Justice (DOJ) is weighing several options to address the recent court ruling that found Alphabet’s Google (Symbol: GOOG) illegally monopolised the online search market. Among these options, breaking up Google into smaller entities, such as divesting the Android operating system, the Chrome web browser and the AdWords advertising platform, is gaining attention. On the analytic front, the chart for GOOG on the 1-hour timeframe displays a slight upward trend. The EMA lines (24,24,72) show a convergence, indicating a possible transition from the previous downtrend to a potential uptrend – a key sign that means that investors are generally still hopeful. Read more to find out about the GOOG stocks here.

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Disclaimer:

The uncertainty surrounding Google’s future could lead to increased volatility in Alphabet’s stock. Traders might see swings in share prices as the market digests new information about potential DOJ actions. This volatility could present day trading opportunities, particularly for those using strategies that capitalise on rapid price movements. However, traders should also be cautious. The tech sector could experience ripple effects if a breakup is announced. Investors might rotate out of tech stocks temporarily, seeking safer assets amid the uncertainty. Additionally, any negative sentiment could affect other Big Tech stocks, given their interconnectedness within major indices.

Publication date:

2024-08-19 07:57:49 (GMT)

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