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The US Department of Justice (DOJ) wants to break Google's iron grip on search and search advertising. But if that's the end game of the antitrust lawsuit unveiled today, don't expect the government (or Google-haters) to get what they want.
For years now, the Justice Departments and 11 Republican-led states have been working to knock Google off its pedestal as the leading search engine. And now, Deputy Attorney General Jeffrey Rosen is alleging that Google violated Section 2 of the Sherman Act. This follows a 2019 investigation into "market-leading platforms" and their competitive practices. Those of you with long technology memories may recall that the last important time the Sherman Act was used against a company was in 1998 when the DOJ used it on Microsoft.
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 COVID-19 has had ruinous consequences for many companies, but you'd be hard pressed to find any negative impact on perennial winner Advanced Micro Devices (AMD). The chip maker has swatted away the pandemic and has continued the market trouncing performance it set off on some half a decade ago.Heading into next week's earnings (October 27, AMC), in possession of a year-to-date share gain of 78%, RBC analyst Mitch Steves pounds the table for more AMD upside.The 5-star analyst anticipates a "beat and raise" and, as such, lifts his price target from $84 to $92. This figure implies additional upside of 13% over the following months. Needless to say, Steves' rating stays an Outperform (i.e. Buy). (To watch Steves' track record, click here)So, what's behind the target increase?Steves explained, "Our checks remain positive and we anticipate: 1) upside to gaming numbers due to higher than expected demand, 2) upside on PC CPUs as well given the continued strength from WFH initiatives - we also think AMD is continuing to gain share against Intel and 3) the steady share gains on the server side should continue and the firm should reach low-mid teens share (up from 10%) in the next 2-3 quarters."Steves also addresses the recent rumored takeover of semiconductor peer Xilinx. Investors' initial negative reaction to the estimated $30 billion deal was based on the fear the purchase amounts to a "defensive minded transaction." Steves believes the noise surrounding the acqusition means "the focus has shifted away from AMD's curren
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"Hopefully, by the end of the day today, we'll know where we all are," Speaker Nancy Pelosi said in a television interview.
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