Why Alphabet Stock Fell Today
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Alphabet's stock fell 1.4% despite the S&P 500 rising 0.1%. The decline followed an unfavorable antitrust ruling, which found the company responsible for maintaining a monopoly in the digital ad space. Although new analyst price targets from Morgan Stanley and Truist suggested potential upside, the ruling overshadowed this optimism. Morgan Stanley lowered its target to $185, while Truist set it at $200, both indicating significant upside potential. Alphabet plans to appeal the ruling, which could lead to a lengthy process regarding its advertising network.
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