Google, Alphabet's subsidiary, has lodged a formal complaint with the European Commission against Microsoft, accusing the tech giant of abusing its dominant market position to unfairly steer customers towards its Azure cloud platform. This move could have far-reaching implications for competition in the cloud computing market and potentially impact Alphabet's stock performance.
Market Response and Analyst Projections
Initially, news of the complaint had minimal effect on Alphabet's stock, which remained relatively stable at around $162 on NASDAQ. However, analysts have set an average price target of $204.71, suggesting significant growth potential. The stock's future trajectory may hinge on the European Commission's response to the complaint and any subsequent measures taken. As the tech sector experiences a bull run with NASDAQ reaching new highs, investors are closely monitoring how this intensified rivalry in the cloud segment might influence growth prospects and market shares of the companies involved.
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