BUZZ-Alphabet down; Needham suggests addiction ruling impact overblown

Reuters03-27 20:32
BUZZ-Alphabet down; Needham suggests addiction ruling impact overblown

** Shares of Google-parent Alphabet GOOGL.O down 0.9% at $278.49 premarket

** Needham says California jury decision finding Meta and Google liable for a young woman’s depression and suicidal thoughts is unlikely to spark a wave of similar lawsuits

** "We are buyers of GOOGL shares on weakness related to the California jury decision" - Brokerage

** Adds economic upside for plaintiffs not high enough to offset trial risks associated with GOOGL's deep pockets, phalanx of litigators, and elongated time-frames

** Estimates that less than 5% of YouTube's revenue comes from users under 18 years old

** Wells Fargo raises GOOGL PT to $397 from $387; says co's decision to license its Tensor Processing Unit (TPU) chip to Anthropic will add $2.5 billion to Google Cloud revenue in 2026 and $7.5 billion in 2027

** 53 of 60 brokerages rate the stock "buy" or higher and 7 "hold"; median PT is $380 - data compiled by LSEG

** As of last close, stock down ~10% in 2026

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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