AI saved Google’s search monopoly, this analyst says

Roth Capital Markets analyst Rohit Kulkarni maintained a “Buy” rating and US$210.00 target price on Alphabet (Alphabet Stock Quote, Chart, News, Analysts, Financials NYSE:GOOGL) in a Sept. 3 report, reiterating the stock as his “top 2H25 Mega Cap pick.”

Alphabet shares climbed as much as 8% after U.S. District Judge Amit Mehta’s Sept. 2 ruling imposed limited remedies in the Department of Justice’s search monopoly case.

Google must share certain search index and user-interaction data with competitors for six years, but will not be required to divest Android, sell off Chrome, introduce a “choice screen,” or run ad campaigns promoting alternative search engines.

Kulkarni described the verdict as “benign,” noting Google can continue paying Apple and other smartphone makers for default placement.

“The judge thought it would be too disruptive and would rather benefit Google,” he said. Alphabet echoed that stance in a blog post, saying “competition is intense and people can easily choose the services they want.”

For investors, Kulkarni added, the backdrop of “rising AI competition” is helping to save Google’s search monopoly after five years of regulatory drama, underscoring why Alphabet remains a core large-cap idea.

At US$225 per share, Kulkarni estimates Alphabet is trading at about 21 times fiscal 2026 GAAP earnings, below its historical 24–25 times range prior to 2020. The stock closed Sept. 3 at US$229.10, above his target.

“We acknowledge our price target is below the current share price, as we are waiting for the final decision expected on September 10, 2025,” he said.

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