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    GOOGL   US02079K3059

ALPHABET INC.

(GOOGL)
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U.S. House lawmakers introduce bipartisan bills to target Big Tech

06/11/2021 | 02:30pm EDT

WASHINGTON, June 11 (Reuters) - Lawmakers in the U.S. House of Representatives introduced five bills on Friday, four of them aimed at reining in the power of the tech giants in what one congressional aide described as a revolution in antitrust.

Among the five bills, two address the issue of giant companies, such as Amazon.com Inc and Alphabet Inc's Google, creating a platform for other businesses and then competing against those same businesses.

One measure would require platforms to sell a subsidiary if owning it creates an incentive for the platform to advantage its own products or lines of business.

"From Amazon and Facebook to Google and Apple , it is clear that these unregulated tech giants have become too big to care and too powerful to ever put people over profits," said U.S. Representative Pramila Jayapal, a Washington state Democrat who sponsored this measure along with Representative Lance Gooden, a Republican.

A second measure would make it illegal in most cases for a platform to give preference to its own products on its platform with a hefty fine of 30% of the U.S. revenue of the affected business if they violate the measure. Representative David Cicilline, who chairs the House Judiciary Committee's antitrust panel, was a sponsor of this bill along with Gooden. (Reporting by Diane Bartz in Washington Editing by Matthew Lewis)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.80% 2434.87 Delayed Quote.38.93%
AMAZON.COM, INC. 2.17% 3489.24 Delayed Quote.7.13%
APPLE INC. 1.26% 131.79 Delayed Quote.-0.68%
FACEBOOK INC 1.64% 336.51 Delayed Quote.23.19%
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Financials (USD)
Sales 2021 236 B - -
Net income 2021 58 816 M - -
Net cash 2021 140 B - -
P/E ratio 2021 27,8x
Yield 2021 -
Capitalization 1 662 B 1 662 B -
EV / Sales 2021 6,45x
EV / Sales 2022 5,45x
Nbr of Employees 139 995
Free-Float 90,2%
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Mean consensus BUY
Number of Analysts 48
Average target price 2 797,91 $
Last Close Price 2 434,87 $
Spread / Highest target 28,4%
Spread / Average Target 14,9%
Spread / Lowest Target -0,82%
EPS Revisions
Managers and Directors
NameTitle
Sundar Pichai Chief Executive Officer & Director
Ruth M. Porat Chief Financial Officer & Senior Vice President
John LeRoy Hennessy Chairman
Louis John Doerr Independent Director
Ann Mather Independent Director
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