CNBC's "Fast Money" Google’s Chrome Dilemma… And MicroStrategy’s Crypto Connection 11/21/24
Nov 21, 2024
Gene Munster, Managing Partner at Deepwater Asset Management, dives into Google's precarious antitrust situation, examining how the DOJ's request for Google to divest its Chrome browser could reshape the tech landscape. The discussion touches on the potential fallout for innovation and market share. Additionally, the rising trajectory of Bitcoin is highlighted, with insights into how MicroStrategy is betting on its continued growth. Munster emphasizes the broader implications of these trends on both the crypto market and tech giants.
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Market Reacts to Regulatory Pressure
- Google's parent company Alphabet lost $100 billion in market cap in one day due to DOJ's recommendation to sell Chrome.
- This market reaction is unusual given past dismissiveness of regulatory actions against tech companies.
Chrome Divestiture Uncertainty
- The DOJ's recommendation for Google to sell Chrome is a significant ask, with potential implications for the company's search business.
- There's uncertainty about the feasibility and impact of such a divestiture.
Potential Impact of Chrome Spinout on Google Search
- Google's search share could drop if Chrome is spun out, impacting growth and potentially even turning negative.
- However, Gene Munster believes this is a low-probability event and that Google's search dominance will likely recover over time.