Possible title Google Faces Threat of Losing Search Dominance as … – Best Stocks

On April 17, 2023, Alphabet Inc. experienced a nearly 4% drop in shares after reports surfaced that Samsung Electronics was considering replacing Google with Microsoft-owned Bing as its default search engine. This decision, if made, could result in Google losing an estimated $3 billion in annual revenue. Despite this news, Alphabet’s stock remained on an uptrend since February 24, 2023.

An uptrend is characterized by a consistent series of higher and lower highs on a stock chart, indicating that the bulls are in control. Traders can use moving averages to identify an uptrend, with bullish traders hoping to see Google hold above the eight-day exponential moving average (EMA).

Google has long dominated the search market with a share of over 80%, but concerns are growing on Wall Street that the company may be falling behind Microsoft in the fast-moving AI race. Some investors worry that Google has become complacent as a monopolist in search. These concerns have been heightened by…

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