Market News

GOOGL Accuses Microsoft’s Cloud Business of Anti-Competitive Practices

Tech giant, Alphabet’s (NASDAQ: GOOGL) Google Cloud accused Microsoft (MSFT) of “anti-competitive cloud computing practices and criticized imminent deals with several European cloud vendors,” Reuters reported on Thursday.

Google Cloud’s VP Amit Zavery told Reuters that it has raised this issue with European antitrust regulators and has urged them to take a closer look at it. In response, Microsoft referred to its blog post in May last year where its President Brad Smith had commented, “[Microsoft] has a healthy number two position when it comes to cloud services, with just over 20 percent market share of global cloud services revenues.”

The rivalry between the two tech giants has heated up when it comes to the fast-growing cloud business as GOOGL trails Amazon (AMZN) and Microsoft. This business is also inviting more scrutiny from regulators, particularly in Europe as more companies move their businesses to the cloud and very few players dominate this market.

Reuters reported that in a move to stave off these antitrust complaints from smaller rivals, Microsoft has offered to change its cloud computing practices.

Analysts remain bullish about GOOGL stock with a Strong Buy consensus rating based on a unanimous 32 Buys.

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