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Alphabet Stock Opens Lower As Trump Claims Google Suppresses News
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Shares of Alphabet (GOOGL - Free Report) dipped in early morning trading Tuesday after President Donald Trump accused Google of rigging its search results to favor liberal media and suppressing positive news about him.
The president took to his preferred platform, Twitter, in the wee hours of Tuesday morning to share his thoughts, claiming that Google search results for “Trump News” yield only results from the “Fake New [sic] Media.”
Trump also tweeted that 96% of search results for the above term are from the “National Left-Wing Media,” a statistic which many critics have already called dubious. As The Verge reports, the claim appears to have originated from conservative outlet PJ Media and later spread to other right-wing voices.
The 96% statistic is the analysis of a lone reporter who Googled the term “Trump” a number of times using different computers, then tallied up the perceived bias of the outlets in the first 100 results, according to The Verge.
Trump’s public lashing out at Google was enough to cause some mild headline volatility for the stock this morning.
This is not, of course, the first time the president’s tweets have had an effect on the share prices of a major technology company.
Notably, President Trump has sparred with Amazon (AMZN - Free Report) and its enigmatic CEO, Jeff Bezos. In several instances—dating back as far as his campaign and occurring as recently as this summer—Trump used Twitter to voice concerns that Bezos and Amazon are avoiding taxes and manipulating the U.S. Post Office in their favor.
But at the root of Trump’s frustration with both Amazon and Google is one commonality: criticism of his administration.
Indeed, many of Trump’s verbal and virtual jousts with Amazon followed critical reporting of the White House in the Washington Post, a popular newspaper and online publication owned by none other than Bezos.
Similarly, in today’s tweets about Google, Trump is frustrated by what he perceives as bias against him. Whether or not Google is actually rigging results is another question entirely, but it is clear that a trend is developing in Trump’s wars of words with tech firms.
Want more market analysis from this author? Make sure to follow @Ryan_McQueeneyon Twitter!
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Alphabet Stock Opens Lower As Trump Claims Google Suppresses News
Shares of Alphabet (GOOGL - Free Report) dipped in early morning trading Tuesday after President Donald Trump accused Google of rigging its search results to favor liberal media and suppressing positive news about him.
The president took to his preferred platform, Twitter, in the wee hours of Tuesday morning to share his thoughts, claiming that Google search results for “Trump News” yield only results from the “Fake New [sic] Media.”
Trump also tweeted that 96% of search results for the above term are from the “National Left-Wing Media,” a statistic which many critics have already called dubious. As The Verge reports, the claim appears to have originated from conservative outlet PJ Media and later spread to other right-wing voices.
The 96% statistic is the analysis of a lone reporter who Googled the term “Trump” a number of times using different computers, then tallied up the perceived bias of the outlets in the first 100 results, according to The Verge.
Trump’s public lashing out at Google was enough to cause some mild headline volatility for the stock this morning.
This is not, of course, the first time the president’s tweets have had an effect on the share prices of a major technology company.
Notably, President Trump has sparred with Amazon (AMZN - Free Report) and its enigmatic CEO, Jeff Bezos. In several instances—dating back as far as his campaign and occurring as recently as this summer—Trump used Twitter to voice concerns that Bezos and Amazon are avoiding taxes and manipulating the U.S. Post Office in their favor.
But at the root of Trump’s frustration with both Amazon and Google is one commonality: criticism of his administration.
Indeed, many of Trump’s verbal and virtual jousts with Amazon followed critical reporting of the White House in the Washington Post, a popular newspaper and online publication owned by none other than Bezos.
Similarly, in today’s tweets about Google, Trump is frustrated by what he perceives as bias against him. Whether or not Google is actually rigging results is another question entirely, but it is clear that a trend is developing in Trump’s wars of words with tech firms.
Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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