BUZZ-Google faces possible second EU fine, Alphabet shares dip
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Alphabet's shares dipped 0.4% following reports of a potential second EU fine under the Digital Markets Act, focusing on unfair advantages in vertical search engines. This comes after a recent 2.95 billion euro penalty for favoring its ad tech services. Despite the dip, GOOGL stock is up approximately 30% year-to-date, outperforming the Nasdaq's 16% increase, though it has fallen about 3% since reaching a record high on September 19. The stock is currently trading at 24 times expected earnings, slightly above its 5-year average PE of 22.
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