Why Alphabet Stock Flopped on Friday
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Alphabet's stock fell nearly 4% on Friday, significantly underperforming the S&P 500's 0.2% decline. This drop was influenced by a pending 4.1 billion euro fine from the EU for stifling competition with its Android OS. The Court of Justice of the EU's advocate-general recommended dismissing Alphabet's appeal against the fine, which, while non-binding, is often followed by the court. Although the fine was reduced from over 4.3 billion euros, a loss in the appeal would highlight Alphabet's vulnerability to anti-competitive lawsuits.
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