After years of debate, tech giant Google (GOOG) (GOOGL) has made a U-turn on removing third-party cookies in Chrome. Instead, it plans to retain them and provide a user-friendly interface for managing privacy settings.
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What are cookies? Cookies are small data files stored by a browser that monitor user behavior and preferences on websites.
It’s important to highlight that the search giant is scheduled to report its second-quarter results today.
Background
Google had initially planned to phase out third-party cookies on Chrome by the fourth quarter of this year.
However, the timeline was pushed back to early next year due to divergent feedback from regulators, developers, and the industry.
New Approach to Privacy
Google now proposes a new approach that enhances user choice, allowing users to decide whether to enable or disable third-party cookies.
As per the new announcement, the Privacy Sandbox, a suite of APIs (Application Programming Interface) designed to protect user privacy, will continue to operate alongside third-party cookies in Chrome for the foreseeable future. Users can choose to use the Privacy Sandbox or continue with third-party cookies for data tracking.
Google Reports Q2 Today
Meanwhile, Google is slated to report its second-quarter results today. Analysts expect the company to generate an EPS of $1.84 on $84.21 billion in revenue for the quarter. In the comparable year-ago period, Google’s EPS of $1.44 had fared better than consensus by $0.01.
What Is the Target Price of GOOGL Stock?
Google’s share price has rallied by nearly 50% over the past year. Overall, the Street has a Strong Buy consensus rating on the stock, alongside an average GOOG price target of $202.80.
