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Alphabet Stock Dips as Court Ruling Forces Google Play Store Changes
Alphabet Stock Dips as Court Ruling Forces Google Play Store Changes
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BTCCSquare news:
Alphabet Inc. shares slid more than 2% Thursday after a federal court upheld an injunction requiring Google to dismantle key aspects of its Play Store ecosystem. The ruling mandates the tech giant allow alternative payment systems and third-party app marketplaces—a decision Alphabet warns will compromise user security and stifle innovation.
The legal setback stems from Epic Games' 2020 antitrust lawsuit challenging Google's 30% app revenue cut and billing restrictions. While the immediate market reaction hit Alphabet's stock, the broader Nasdaq composite dipped just 0.4%, highlighting the company's outsized exposure to app store regulations.
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