Alphabet (GOOGL) Stock Falls Following Chrome Sale Concerns

Alphabet (GOOGL) Stock Falls Following Chrome Sale Concerns

PENGY November 22, 2024, 1:03 am Facebook Twitter


Alphabet (GOOGL) stock is falling in Thursday’s trading session following the latest talks of a potential sale of its Google Chrome browser. Google may sell its Chrome browser for up to $20 billion if a judge forces the transaction, according to a Bloomberg valuation. The Justice Department is proposing Alphabet sell the business in what would be a historic crackdown on Google’s growing monopoly.

Per Bloomberg analyst Mandeep Singh, Google Chrome’s sale would be worth “at least $15-$20 billion.” The internet browser averages roughly 3 billion active users per month, making it one of the most popular web browsers in the world. This is one of Alphabet’s biggest streams of income, and the forced sale would be a huge blow to Google and its profits.

Alphabet (GOOGL) Stock Suffers On Thursday Trading Amid Sale Fears

At press time, GOOGL stock is down 5.7% in the last 24 hours. Since the news dropped, investors in Alphabet have worried about the tech giant’s future, with Chrome playing a huge role in it. Judge Amit Mehta will weigh in by next summer on the Google Chrome sale. A decision to force the sale would ultimately sink Google stock. However, until then investors will likely view GOOGL in limbo, not giving it a stable floor of price.

Alphabet stock was one of the biggest winners from the 2024 election out of all the tech companies. Now that the market boom following Trump’s presidential win is cooling off, the potential Google Chrome sale is coming at a bad time for GOOGL. Worries are growing from stock experts that Google stock could fall further over the coming months. With its Q3 earnings boost behind it as well, Alphabet may stay teetering from a tumble until its Q4 results are announced at the end of the year.

With Donald Trump’s new control over the Justice Department though, the future could change for Alphabet in terms of this case. Perhaps with his hand on the DOJ, Alphabet could get a lesser punishment for its monopoly dealings and not sell its Chrome browser.

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