A federal judge denied the Justice Department's bid to force Google to sell its AdX advertising exchange, preserving the monopoly finding but sending Alphabet shares higher as structural breakup risk fades. The liability finding stands, while the court declined the divestiture, though behavioral restrictions are coming and the detailed remedies remain temporarily under seal. Google Network revenue was $7.303 billion in Q2 2026, a small part of Alphabet's total, but the ad-tech stack feeds data into the broader advertising business, and compliance friction could slow AI integration. Judge Amit Mehta's separate search monopoly ruling remains unresolved, with Search & other revenue of $63.27 billion in Q2 2026 most exposed to that remedy. At $337.12 and a P/E of 15x, Alphabet trades below Meta, Microsoft, and Amazon, with 58 analysts setting a $428.07 target price.
Alphabet Inc Class CCourt denies DOJ bid to force sale of AdX, reducing structural breakup risk for Alphabet.
Amazon.com Inc
Microsoft Corporation
Meta Platforms Inc.