The Japanese antitrust regulator has accused tech giant Google (NASDAQ:GOOGL) of anti-competitive practices in Japan. According to a Bloomberg report, the Japanese regulator stated that Google restricted Yahoo Japan’s ability to compete in targeted search ads. Japan’s Fair Trade Commission stated that Google blocked Yahoo Japan’s access to ad technology that would help it generate revenues from mobile searches from 2015 to 2022.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
The report stated that Alphabet agreed to stop this practice after the watchdog flagged it and promised to grant Yahoo Japan access to the targeted ad technology related to keywords. An FTC official told Bloomberg that, “Google’s actions had a significant effect of limiting competition.”
The Japanese antitrust regulator stated that it will continue to monitor the situation and may reopen its investigation into Google if it deems fit. Moreover, Japanese authorities are investigating whether the tech giant asked local smartphone makers to give more importance to its search services on their devices.
What Is the Future Price of Google Stock?
Analysts are bullish about GOOGL stock, with a Strong Buy consensus rating based on 30 Buys and seven Holds. Over the past year, GOOGL has soared by more than 40%, and the average GOOGL price target of $167.51 implies an upside potential of 8.7% from current levels.
