Alphabet shares rise despite a confirmed $4.7 billion EU antitrust fine, with analysts bullish on its AI leadership and growth prospects.
The European Union’s top court upheld a $4.7 billion antitrust fine against Alphabet Inc (NASDAQ:GOOGL) over Android licensing practices. The ruling concludes a years-long legal battle, though the penalty has not dampened investor sentiment toward the tech giant.
Alphabet’s stock has more than doubled in the past year, supported by strong demand for its AI and cloud services. Analysts at Morgan Stanley recently raised their price target to $415 from $375, citing Alphabet’s expanding AI compute capacity and leadership in the sector. The company remains a top pick among hedge funds, with 265 backing the stock.
Despite the fine, market focus remains on Alphabet’s long-term growth, particularly in AI and digital advertising. Shares continue to trade near record highs, reflecting confidence in its diversified business model.