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“This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main Internet products contained in Alphabet instead”.

“But in the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant”, Larry Page, Google co-founder and now Alphabet CEO said in a blog post.

In addition to Morgan Stanley, Robert Baird analysts have reiterated a Buy rating on Google stock, with an upward revision in its TP, from $720 to $780.

Ville Hellman, head of development at digital agency Rawnet, said: “Google has extended their operations to cover a lot of new fields for several years now, and some of the new fields it is entering are only very loosely related to their core business“. Alphabet Inc...

All the shares of Google will be converted automatically into Alphabet shares and the same rights will be retained by shareholders.

Google CEO Larry Page has announced a restructuring of the Internet giant in which Sundar Pichai will become the new CEO while he and Sergey Brin will run a new umbrella company called Alphabet.