Although the antitrust vote by the EU lawmakers doesn’t necessarily means any immediate action against Google Inc (NASDAQ: GOOGL) (NASDAQ: GOOG), but it is definitely a signal to United States and more importantly to U.S. tech firms that they need to tread carefully in Europe. The tech firms, who considered Microsoft’s ordeal with EU as a one of case, can’t do so anymore and will have to chalk out a different strategy for their European business.
The results of the vote have come in-line with the expectations, a majority of EU lawmakers have voted in favor of breaking up Google. CNBC's Seema Mody recently reported on the numbers behind the trust votes and the implications it will have on Google and other U.S. tech firms.
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"This vote basically highlights Europe’s concerns with the dominant role that U.S. tech firms are playing here in Europe," Mody said. "Here is the vote: 384 lawmakers voting in favor of anti-trust regulators to break up Google. It's important to know that this vote does not carry any legal weight, but it is being seen as a political signal by the EU to clamp down on U.S. tech companies, that could be taking market share from European tech firms and perhaps even monopolizing the sector."
"This push by lawmakers is also coming as Europe of course faces a laundry list of challenges of slowing growth, ramping up competition for companies that are based here in Europe. Analysts say that’s another reason that lawmakers are looking to push for this break-up of Google."
Shares of Google recently traded at $545.96, down 0.30 percent.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.