Price snapshot (pre‑market, as of 12:00 UTC)
- Alphabet Class A (GOOGL): $286.71, roughly ‑1.6% vs. prior close.
- Alphabet Class C (GOOG): $287.43, roughly ‑1.5% vs. prior close.
Alphabet stock is slightly lower before the opening bell on Thursday, November 13, 2025, as investors digest a fresh EU investigation into Google’s search policies while weighing the commercial upside from Waymo’s newly announced freeway robotaxi routes. 1
What’s moving Google/Alphabet today
1) Brussels opens a new probe under the Digital Markets Act (DMA)
The European Commission launched an investigation into Google’s “site reputation abuse” anti‑spam policy—part of Google’s broader crackdown on parasite SEO—on concerns it may unfairly demote news publishers that host commercial partner content. Under the DMA, violations can carry fines of up to 10% of global annual revenue (and up to 20% for repeat infringements, according to multiple reports). Google called the probe “misguided” and says the policy protects users by improving search quality. Markets often treat DMA actions as headline risk for large platforms, and pre‑market trading reflects a modest risk‑off tone. 1
Why it matters for the stock: While financial impact (if any) would sit in a prolonged regulatory timeline, EU actions tend to raise uncertainty premia around Search, Google’s profit engine. Headlines can influence near‑term sentiment even without immediate revenue effects. 1
2) Waymo’s freeway robotaxi rollout broadens the growth story
Alphabet’s Waymo began offering paid robotaxi rides that use freeways in the San Francisco Bay Area, Los Angeles, and Phoenix, with new curbside service at San José Mineta International Airport and a wider Bay Area service map. Although the announcement hit yesterday, follow‑through coverage today keeps it in view for traders as a medium‑term catalyst for Alphabet’s “Other Bets” and AI/autonomy narrative. 2
Why it matters for the stock: Waymo’s steady operational expansion reinforces Alphabet’s optionality in autonomous mobility and showcases applied AI. While revenue contribution is still small relative to Search and YouTube, credible scaling milestones help sustain multiple support. 2
3) Macro backdrop: the U.S. shutdown just ended; October CPI is still missing
Overnight, the U.S. government formally ended a 43‑day shutdown after a funding bill was signed. However, officials and outlets signaled that October CPI will not be released due to the data‑collection gap during the closure, and economists expect agencies to prioritize November data next. Thin macro visibility can dampen risk appetite in early trading. 3
Other headlines shaping sentiment
- Competition narrative: Cloudflare’s CEO criticized Google’s search practices in a widely shared on‑stage interview, adding to the week’s scrutiny of search distribution and AI. It is anecdotal but directionally consistent with today’s EU focus. 4
- Product & AI updates: Google began rolling out improvements to Gemini Live to make voice interactions more natural and expressive—incremental, but supportive to the platform’s AI positioning. 5
Valuation context
At today’s indication, Alphabet’s market capitalization is about $2.94T. The finance feed shows a ~23.7x trailing P/E—below some mega‑cap peers—while the stock still trades near all‑time territory after notching the $3T milestone earlier this fall. Regulatory noise may sway the multiple intraday, but the long‑run AI and cloud narratives remain primary drivers. 6
What to watch next
- EU timetable & scope: The Commission will gather evidence on whether the policy systematically harms publishers. Potential penalties under the DMA can reach 10% of global revenue (and higher for repeat offenses), but outcomes typically take time. Watch for any near‑term interim measures or guidance from Brussels or Google that could shift headline risk. 1
- Waymo adoption signals: Updates on rider volumes, service uptime, and geographic expansion—especially at airports—will inform how quickly autonomy moves from pilot to business. 2
- Macro calendar rebuild: Agencies are expected to prioritize November inflation and employment prints after the shutdown. Any schedule updates could move yields and mega‑cap tech multiples. 7
Bottom line for Nov 13, 2025
Alphabet (GOOGL/GOOG) trades slightly lower pre‑market as the EU’s new DMA probe resets regulatory headlines around Search, while Waymo’s freeway rollout showcases durable innovation. With macro data still incomplete post‑shutdown, expect a news‑driven session where regulatory and autonomy updates carry outsized influence. 1
