Europe is still deliberating how to respond, but they’re leaning toward retaliation rather than capitulation.

We expect European stocks to take a hit. But this could be an opportune time to buy strong companies—this tariff threat might just time.

For example, the recently announced partnership between Apple and Google to bring Gemini into products like Apple Intelligence and Siri is one way to keep investors on board, even at higher valuations.

 Alphabet will also want to show progress on its other bets, such as Waymo, so that some can start contributing to operating income. 

Trump is playing his tariff game again—this time targeting countries that oppose the US takeover of Greenland. Mostly European nations. He’s threatened a 10% tariff starting February 1st on goods from Britain, Denmark, Norway, Sweden, France, Germany, the Netherlands, and Finland—rising to 25% from June 1st until the Greenland purchase is settled.

Alphabet’s share price started picking up in the second half of 2025 (2H2025), driven by improving financial numbers through the year, along with increased optimism over its AI 

Finally

Alphabet’s 1Q2025 results showed that revenue for the Google Search business grew by 10% year on year.