Alphabet Inc. (GOOGL)'s "Bouncing Like You Wouldn't Believe," Says Jim Cramer

We recently published 11 Stocks Jim Cramer Discussed As He Said Apple’s CEO Is A “Pawn”. Alphabet Inc. (NASDAQ:GOOGL) is one of the stocks Jim Cramer recently discussed.

Alphabet Inc. (NASDAQ:GOOGL)’s stock has turned a leaf after the firm won a reprieve from court through a historic ruling, which allowed it to continue owning Chrome and keep paying Apple to make Google Search the default iOS platform. Since the ruling, Alphabet Inc. (NASDAQ:GOOGL)’s shares have gained 11% to push its market value to a whopping $2.8 trillion. Such large moves are uncommon for trillion-dollar companies. As a result, Cramer compared Alphabet Inc. (NASDAQ:GOOGL)’s share price movement to small-cap stocks:

“These stocks are bouncing like you wouldn’t believe like Google was a small cap stock yesterday.”

Here are Cramer’s complete thoughts about Alphabet Inc. (NASDAQ:GOOGL) after the court ruling:

“Now, though, let us talk about what really matters. What happened today? Google and Apple, that’s what happened because they are today’s example of the dreaded, dangerous concentration… I listened to the sirens and saw one of the canaries fighting for its life last year. The canary was Google, now Alphabet. After owning this stock for years, in 2024, I decided that its version of artificial intelligence, Gemini, was cannibalizing its regular search… And more important, I was worried about the antitrust regulators going after them… You can’t be a monopolist. It’s illegal. I thought for a moment that this could be good news, that Alphabet could be broken into different pieces and that would amount to more than the sum of its parts kind of thing.

You know, [I] figured, wow, Waymo this and YouTube that, but the analysts and prosecutors told me that Alphabet would have to divest this thing called Chrome for nothing, maybe even have to pay to make Chrome independent…

I had a huge gain in Alphabet for the Charitable Trust. Now it was in jeopardy. It was supposed to be a death sentence for Alphabet, and I wasn’t going to electric chair with this one, so we sold it for the trust. In retrospect, I was a fool.

The concentration argument, as I’ve said, was a total canard… The court yesterday basically took back last year’s harsh ruling. It was a do-over. There’s no monopoly here at all… In the end, I listened to the sirens of negativity and I left the stock, but nothing really happened. I want my money back, but the scaremongers aren’t going to give it to me, the ones who worried about concentration. I left 50 points on the table.”

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Disclosure: None. This article is originally published at Insider Monkey.