Google, Other Big Tech Firms Seen Facing Major Policy Shifts During Trump Presidency, Wedbush Says
10:41 AM EST, 11/22/2024 (MT Newswires) -- Alphabet's (GOOG, GOOGL) Google and other so-called "Big Tech" companies are seen facing major policy shifts in the coming years with Donald Trump in the Oval Office, Wedbush Securities said in an industry note Friday.
The firm's note comes after the US Department of Justice's proposed final judgment enumerating remedies related to Google's monopoly on Internet searches.
"While the DOJ will continue its aggressive stance against Big Tech the reality is many of these swirls against Big Tech will ultimately be more bark than bite in our view," Wedbush analysts, including Daniel Ives, said in the note.
The analysts said they also see Apple (AAPL) having more court battles with the DOJ soon.
"But ultimately we believe Big Tech emerges from these legal and Beltway battles with some scrapes and bruises...but nothing more concerning that disrupts the bullish tech trade and [artificial intelligence] revolution thesis into 2025 and beyond," the analysts said.
Price: 166.88, Change: -2.36, Percent Change: -1.39