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Italian Antitrust Regulator Penalizes Google, Apple

According to a report published by Reuters, Italy’s antitrust regulator has directed Alphabet’s (GOOGL) Google and Apple, Inc. (AAPL) to pay a penalty of about €10 million ($11.23 million) for not providing clear and immediate information on the collection and use of data of those who access their services.

The regulator said that while opening an account on Google, users have to accept the terms and conditions of data usage. Meanwhile, Apple users are not presented with a choice in this context. (See Alphabet stock charts on TipRanks) 

Price Target

Goldman Sachs analyst Eric Sheridan maintained a Buy rating on Alphabet with a price target of $3,350 (14.6% upside potential from current levels).

Overall, the stock has a Strong Buy consensus rating based on 25 Buys and 2 Holds. The average Alphabet price target of $3,328.08 implies 13.9% upside potential.

Website Traffic

TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into Alphabet’s performance this quarter.

According to the tool, the website of Alphabet recorded a 5.1% monthly rise, year-over-year, in global unique visits in October. Moreover, year-to-date website growth, compared to year-to-date website growth in the previous year, came in at 6.6%.

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