Google (NASDAQ:GOOGL) (NASDAQ:GOOG) has made changes to its search results in order to comply with new EU tech rules and now offers new tools to app developers. The tech giant‘s new tools will enable developers to promote their products on third-party apps.
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These changes in the EU mean that search results would result in hotels, airlines, merchants, and restaurants getting less traffic compared to intermediaries and aggregators. In addition, users will be asked for their permission before the company shares their data across its products and services.
Moreover, app developers will be able to use other billing systems and will not be restricted to Google Play’s billing system.
The EU’s new Digital Markets Act (DMA) identifies Alphabet’s GOOGL as a gatekeeper, a large platform offering core services, such as online search engines, app stores, and messenger services. The DMA stipulates that such gatekeepers must adhere to obligations and prohibitions outlined in the act.
Designated gatekeepers like GOOGL and Apple (NASDAQ:AAPL) will have to comply with the DMA by March 7.
What Is the Future Price of GOOGL Stock?
Analysts remain bullish about GOOGL stock with a Strong Buy consensus rating based on 29 Buys and eight Holds. Over the past year, GOOGL stock has gained by more than 35%, and the average GOOGL price target of $164.59 implies an upside potential of 24.5% at current levels.
