New York, January 24, 2026, 09:33 (ET) — Market closed
- Alphabet’s non-voting Class C shares (GOOG) slipped 0.7% on Friday, closing at $328.43
- New legal and regulatory challenges have emerged for Google, linked to its search business and Waymo.
- Investors are eyeing the Fed next week and Alphabet’s Feb. 4 earnings for fresh insights into AI monetization
Alphabet Inc’s Class C shares (GOOG.O) dipped 0.7% on Friday, finishing at $328.43 as the market wrapped up for the weekend. Investors weighed a batch of fresh news about Google’s core search unit and Waymo.
The timing is crucial. Wall Street reopens Monday, kicking off a week loaded with earnings from major mega-cap tech firms and a Federal Reserve meeting set for Jan. 27–28—events that can jostle the big index movers. “You have to actually put up the revenue growth to justify the run-up in stocks,” said Julian McManus, portfolio manager at Janus Henderson, in an interview with Reuters. 1
Alphabet will release its fourth-quarter and full-year 2025 results on Wednesday, Feb. 4, with a conference call scheduled for 4:30 p.m. Eastern, the company announced. Investors will be watching closely to see if AI-driven spending is impacting ad pricing and cloud revenue, beyond just flashy product demos. 2
A U.S. judge in California ruled that Google must face a consumer antitrust lawsuit accusing the company of striking deals with major tech firms to stifle search competitors. While the judge dismissed claims related to conduct before 2017, the key allegations will move forward for now. Google denies any wrongdoing. 3
Google rolled out a new addition to its AI-driven search this week. The company announced it’s broadening “Personal Intelligence” within AI Mode in Search. U.S. subscribers to Google AI Pro and AI Ultra can now opt in to link their Gmail and Google Photos accounts, letting responses tap into their personal data. 4
That push for personalization raises privacy concerns. Google Search VP Robby Stein clarified the feature “doesn’t train directly on your Gmail inbox or Google Photos library,” emphasizing that the rollout is optional. 5
Waymo, Alphabet’s self-driving arm, came under fresh scrutiny Friday after the National Transportation Safety Board announced an investigation into its robotaxis for illegally passing stopped school buses in Austin, Texas, at least 19 times since the school year began. The company said no collisions occurred and that its system “safely navigates thousands of school bus encounters weekly.” 6
Raymond James pushed back on market doubts, upgrading Alphabet to a “Strong Buy” with a $400 price target—a forecast for where the stock might head. The firm highlighted the company’s AI efforts, noting its stack is “shifting to high gear,” fueled by stronger results in Google Cloud Platform and Search. Analyst Josh Beck said, “We believe GOOG is likely entering a cycle of improving AI Stack narrative and upward revisions.” The note also quoted Google Search head Liz Reid: “With AI Overviews, people are searching more and asking new questions that are often longer and more complex.” 7
A separate filing revealed that CEO Sundar Pichai sold 32,500 shares of Alphabet’s Class C stock on Jan. 21 under a Rule 10b5-1 plan — a prearranged trading program for insiders. The weighted-average price ranged from about $319.87 to $332.52, according to the filing. 8
Still, the headlines aren’t all positive. More advanced AI-powered search and personalization could draw sharper scrutiny from regulators and privacy watchdogs. Antitrust lawsuits, too, can drag on for years and sometimes force companies to overhaul their operations. Then there’s Waymo’s safety record — a volatile factor that could spark a swift backlash if anything goes wrong.
Traders gearing up for the next session and the week ahead will focus on whether macro catalysts and big-tech earnings shift valuations for the “AI winners” trade. They’ll also see if ongoing legal and safety investigations continue to weigh on sentiment, even as the tape climbs.
Alphabet faces its next major test on Feb. 4 with earnings and the follow-up conference call. Investors want details on ad demand and cloud expansion. They’ll also be watching closely to see if AI-powered Search is boosting revenue — all while hoping to avoid fresh regulatory scrutiny.
