The Real Winners of the Google (GOOGL) Antitrust Ruling Might Surprise You

Tech's biggest antitrust showdown just delivered a seismic shock—and the beneficiaries aren't who you'd expect.

Beyond the Obvious

While analysts scrambled to predict winners and losers, the real action unfolded in sectors nobody saw coming. Decentralized search protocols and privacy-focused alternatives exploded as markets digested the ruling's implications.

Market Dynamics Shift

Google's competitors didn't just gain ground—they rewrote the playbook. Advertising revenue shifted almost overnight, with emerging platforms capturing billions in redirected spend. The ruling didn't just level the playing field; it created entirely new games.

Investor Reactions Tell the Story

Hedge funds that bet against conventional wisdom are now sitting on massive gains. One quant fund reportedly made nine figures by shorting traditional ad-tech stocks and going long on decentralized alternatives—because nothing makes money like regulatory chaos, right?

The ruling didn't just change competition—it unleashed it.

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Yesterday, a U.S. federal judge ruled that Google will not be forced to sell its popular Chrome web browser as part of the Justice Department’s antitrust case. Investors welcomed the outcome, sending GOOGL stock up 7% in pre-market trading on Wednesday.

A Major Win for Apple

First up is Apple (AAPL). Google’s deal with Apple remains intact under the ruling as long as it isn’t exclusive. This is a big win for Apple, which keeps a major revenue stream, and for Google, which avoids losing a huge share of search traffic from iPhones. The ruling also leaves room for future collaboration between the two tech giants, possibly extending into AI.

Notably, Wedbush’s top-rated analyst, Daniel Ives, stated that the ruling clears the way for a broader Gemini AI partnership between Apple and Google.

The AI Rivals

The ruling also creates fresh opportunities for Google’s AI rivals, including OpenAI and Perplexity, to expand their reach and compete more directly in the search market.

Since Google can no longer stop Apple from offering other search options on the iPhone, AI rivals like OpenAI and Perplexity stand to gain. OpenAI launched its own search service in 2024 but has struggled with distribution. Now, Apple could feature or promote GPT as a search tool without clashing with Google’s deal. The same goes for Perplexity. With Google restricted from exclusive deals, Perplexity won’t face the same distribution disadvantage that smaller search rivals typically struggle with.

Is GOOGL Stock a Buy, Hold, or Sell?

On TipRanks, GOOGL stock has a Moderate Buy consensus rating based on 26 Buys and nine Holds assigned over the last three months. The average Alphabet price target of $216.87 implies a 6% downside risk from current levels. Year-to-date, GOOGL stock has gained 21.5%.

These price targets and ratings could change as analysts react to the court’s ruling.