Google’s Stock Climbs Amid Legal Battles and Robust Revenue Growth

As of last week, Google A (GOOGL) has risen by 1.54%, marking a two-day consecutive gain, and a cumulative increase of 1.60% over these two days. Over the past week, Google A saw an increase of 0.84%, and has achieved a growth of 37.62% since the beginning of the year, bringing its latest market valuation to $2.343.05 trillion.

On December 20, 2024, Google A's trading volume was substantial, ranking 12th among U.S. stocks with a financial turnover of $12.09 billion, a notable 97.24% rise from the previous day. The stock closed at $191.41, up 1.54%, contributing to a 0.84% rise over the last five trading days and a robust 13.29% rally throughout December. This positions Google A at a commendable 37.02% increase since the start of the year and a 35.28% rise over the past 52 weeks.

In the interactive media and services sector, Alphabet Inc., Google's parent company, continues to maintain its diversified business model since its restructuring in 2015. Initially established in 1998 in California, and re-registered in Delaware in 2003, Alphabet is extensively involved in various sectors such as technology, life sciences, capital investment, and research. The company's subsidiaries include Google, Calico, GV, Google Capital, and Google Fiber, among others. Google's focus lies heavily in internet search, cloud computing, and advertising technology, through the development and provisioning of a wide range of internet-based products and services.

On December 21, Google A saw an intraday gain of 1.21%, with shares trading at $190.79 as of 00:19, with a total turnover of $2.492 billion. Financial reports indicate that as of September 30, 2024, Google A's total revenue was $253.549 billion, marking a 14.68% increase, while the net profit attributed to the parent company soared by 38.55% to $73.582 billion.

Significant updates include the recent action by JP Morgan on December 18, raising its price target for Google A to $232, affirming its investment rating as Overweight. In consideration of forthcoming reports, Google A is set to release its fiscal year 2024 annual report on February 4, 2025, as indicated on their official communications.

In regulatory news, Google recently addressed a significant challenge from the U.S. Department of Justice, which proposes forcing the company to divest its Chrome browser amid allegations of illegal monopoly activities in online search and advertising. Google has characterized the proposal as "extreme" and legally unfounded, vigorously defending its ground in a court filing. The company argues that any remedy should align specifically with the antitrust violations, emphasizing the need for caution to avoid stifling innovation and future investments.

Globally, Google's antitrust issues extend beyond the U.S., with Japan's Fair Trade Commission ruling against the company for breaching local antimonopoly laws within its search services. This decision could lead to a formal cessation order, adding to the mounting regulatory pressures Google faces worldwide. Regulators from various global jurisdictions are increasingly scrutinizing Google's market strategies, which reflects the growing regulatory burden on large tech entities.