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Google Must Open Play Store To Competitors, Judge Orders
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Google Must Open Play Store To Competitors, Judge Orders
Oct 7, 2024 5:06 PM

On Monday, a U.S. District judge ordered Alphabet, Inc. ( GOOG ) to open its Google Play Store to competitors, making it easier for developers of mobile app stores to compete on Android phones and tablets. 

The Details: Judge James Donato issued his final ruling in Epic v. Google ( GOOG ), ordering Google ( GOOG ) to distribute third-party app stores within the Google Play Store. The judge also ruled Google ( GOOG ) must give third-party app stores access to the full catalog of Google Play apps and allow developers to link to app downloads outside of the Play Store. 

Read Next: What Happened With Vistra, Constellation Energy Stocks Today?

Google ( GOOG ) was also ordered to stop requiring Google Play billing for apps distributed on the Google Play Store and to allow developers to inform users about alternative payment methods from with the Play Store. 

What Else: The U.S. Department of Justice (DOJ) is expected to file a high-level framework for potential remedies on Tuesday in its separate search distribution trial against Google ( GOOG ).

JP Morgan analyst Doug Anmuth expects the DOJ to present a broad and punitive set of potential remedies that could include the separation of Android and Chrome and/or the separation of Google Search ads from Google. 

Will GOOG Stock Go Up?

When trying to assess whether or not Alphabet will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $203.40 on Alphabet. The Street high target is currently at $220 and the Street low target is $185. Of all the analysts covering Alphabet, four have positive ratings, one has neutral ratings and no one has negative ratings.

In the last month, three analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Alphabet have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Alphabet is 17.79% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Alphabet, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

GOOG Price Action: According to Benzinga Pro, Alphabet shares ended Monday's session down 2.47% at $164.39.  

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