EC Ruling Against Google Is 'Pro-Amazon,' Says Baird
Baird analyst Colin Sebastian believes the European Commission's ruling against Google (GOOGL) is "a bit misguided," but he also thinks it should have a limited direct impact on Google since it ostensibly does not force a change to its search algorithm and seems "relatively straight-forward" to comply with.
The "pro-Amazon ruling" has obvious benefits to Amazon (AMZN) and potentially Apple (AAPL), argues Sebastian, as he notes that the EC will require Android users to take another step before they can access an alternative product search engine and forcing Google to support forked-versions of Android could directly benefit Amazon's Fire devices.
Despite the direct and/or indirect benefits of this ruling for Apple and Amazon, Sebastian maintains his positive view on Alphabet and keeps an Outperform rating and $1,300 price target on the shares.
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