Google Shares Tumble 4.52% Amid Antitrust Pressure and Chromecast Woes

On March 10th, shares of Google's parent company, Alphabet Inc. (GOOG), experienced a notable decline of 4.52%, reaching their lowest intraday level since November 2024. This drop was largely attributed to recent developments in Google's ongoing antitrust issues with the U.S. Department of Justice.

The Justice Department has maintained its stance on demanding that Google divest its Chrome browser due to its alleged monopolistic practices, yet it no longer insists on divestiture concerning Google's artificial intelligence endeavors. Instead, the department merely seeks to enforce early notifications of future AI investments, a shift from its previous more stringent propositions.

In a significant legal setback last August, Google was found guilty of unlawfully monopolizing the online search market, infringing upon U.S. antitrust laws. Consequently, the Justice Department proposed corrective measures, including the sale of the Chrome browser business and restrictions on investments in AI-driven query products or ad technologies. The upcoming court session in April is expected to address these remedies, with a final verdict anticipated in August.

Meanwhile, Google's technical issues extended beyond legal battles. Reports surfaced regarding malfunctions in second-generation Chromecast and Chromecast Audio devices, where users faced alerts indicating "Untrusted Device: Cannot verify due to outdated firmware" while attempting to cast audio or video content. Despite attempts to resolve these issues through device restarts and resets, the functionality remains hindered, with only screensaver features such as Google Photos and weather displays operational.

Users affected by these device issues currently await a server-side fix from Google. As expectations for a resolution grow, the company's capacity to address these technical setbacks swiftly will be crucial not only for consumer satisfaction but also in maintaining its standing amidst broader industry scrutiny.