Alphabet (GOOGL) stock is surging on Wednesday following the US DOJ’s ruling in Google’s antitrust case. The federal district court judge in the U.S. vs Google case released a limited set of remedies to mitigate the tech giant’s monopoly on internet search. The most notable outcome that sent investors in a bullish frenzy was that Google would not need to sell its Chrome web browser.
In addition, Google also won’t be barred from paying Apple to make Google the default search provider on its devices. However, the court said it could still revisit that part of the ruling. During Wednesday trading, Alphabet stock rose 8.4% to $229.05, an all-time high, according to Dow Jones Market Data. Several analysts have already begun revising their price forecasts for the shares to higher levels to reflect the ruling.
“While in theory Google is barred from ‘exclusive deals’ for search, this now lays the groundwork for Apple to continue its deal and ultimately likely double down on more AI related partnership with Google Gemini down the road,” said Wedbush analyst Daniel Ives in a report. “We now see a green light for a bigger Gemini AI partnership between Apple and Google with this DoJ case now in the rear view mirror.” GOOGL stock is already trading near the top of its 52-week range and above its 200-day simple moving average.
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Furthermore, CNN analysts have rounded up a wide net of bullish predictions for Alphabet GOOGL stock in the coming year. The platform rates GOOGL an 8/10 at press time. Additionally, CNN’s price forecast for Alphabet stock has it establishing a further high of $270.00. This reflects a gain of 17% from current prices. With Wednesday’s gains, Google stock is now up 21% in 2025, outpacing other magnificent-7 stocks like MSFT and AAPL.