Despite facing lawsuits, the stocks of both Amazon and Google remain favorable investment opportunities. Amazon, the e-commerce giant, has been involved in multiple antitrust cases, but its strong position in the market and growing business activities continue to present a positive outlook. Similarly, Google, the search engine giant, faces regulatory challenges in various regions, but its dominant market presence and consistently strong financial performance make it an attractive option for investors. Both companies have proven track records of success and are well-positioned to weather legal challenges, making their stocks still desirable for potential investors..
CNBC’s Jim Cramer on Tuesday shared his opinions on two antitrust lawsuits involving tech giants Amazon and Alphabet-owned Google, contending that neither company is a true monopoly.
The Department of Justice filed a suit against Google alleging the company violated anti-monopoly law through agreements with mobile phone and browser manufacturers — namely a multibillion-dollar contract with Apple — so that its search engine would be the default for consumers.
“I’m sure Google and Amazon would love to be actual monopolies, and they may have been real tough competitors, but neither of them has that kind of scale,” Cramer said.
Cramer argued that Google has a powerful contender in Microsoft and its search engine Bing. He added that Apple agreed to the deal with Google because consumers prefer its search engine. Apple executive Eddy Cue made a similar case in his Tuesday testimony.
The Federal Trade Commission filed another antitrust lawsuit against Amazon, alleging the company used “monopoly power” to inflate prices, degrade product quality for consumers and stamp out competition. Again, Cramer emphasized the consumer’s preference for the company, in respect to this argument.
“Once again, the consumer loves Amazon. That’s why the company has tens of millions of Amazon Prime subscribers,” he said. “There are so many other sites and so much commerce done away from Amazon, that it, like Alphabet, may have set out to try to monopolize, but it, too, can’t honestly be called a monopoly.”
Despite the ongoing litigation, Cramer said he thinks both stocks will perform well.
Correction: Jim Cramer shared his opinions about the Big Tech antitrust cases on Tuesday. An earlier version misstated the day.
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CNBC’s Jim Cramer shared his views on the antitrust lawsuits against Google and Amazon, stating that neither company can be considered a true monopoly. Cramer argued that Google has competition from Microsoft’s search engine Bing and that Apple chose to partner with Google due to consumer preference. Similarly, he emphasized that while Amazon may have tried to monopolize, consumers still have many other options for online commerce. Despite the ongoing litigation, Cramer predicts that both stocks will perform well. The CNBC Investing Club Charitable Trust holds shares of Amazon, Alphabet, and Apple.
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