Google's Potential Breakup Could Unlock 20% Value, But Search Giant Likely Won't Pursue Split Voluntarily, Says Top Analyst: 'Probability...Is Exceptionally Low'
Google's Potential Breakup Could Unlock 20% Value, But Search Giant Likely Won't Pursue Split Voluntarily, Says Top Analyst: 'Probability...Is Exceptionally Low'
Deepwater Asset Management's managing partner Gene Munster said that the potential breakup of Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) could unlock substantial value for the company.
Deepwater资产管理的管理合伙人吉恩·芒斯特表示，Alphabet Inc.（纳斯达克代码：GOOG）（纳斯达克代码：GOOGL）的潜在分拆可能会为公司释放巨大价值。
What Happened: On Wednesday, Munster joined CNBC's 'Fast Money' to discuss the potential implications of a Google breakup. "I think this could unlock 20% of value."
发生了什么：周三，芒斯特参加了CNBC的“快钱”节目，讨论了Google分拆的潜在影响。 "我认为这可能会释放20％的价值。"
According to Munster, the most likely scenario would involve Google separating its ad network, which he referred to as the "ugly piece" of the business.
根据芒斯特的说法，最有可能的情况是Google分离其广告网络，他称其为业务的“丑陋部分”。
Despite contributing 11% of the company's revenue, this segment has been on a decline and has long been speculated to be a target for a breakup by regulators, said Munster.
芒斯特表示，尽管这一业务贡献了公司11％的营业收入，但其萎缩并一直被认为是监管机构拆分的目标。
"Where does Gemini fall in a potential breakup? And most likely that goes with the Search business, which is where ... more than half the value is today," he said.
"在潜在的分拆中，Gemini在哪里？最可能与搜索业务一起，这是今天价值超过一半的地方，"他说。
He also discussed the cultural aspect of Google, stating that the company has lost some of its sparks and a breakup could reignite the urgency around different business segments.
他还讨论了Google的文化方面，称公司失去了一些创新，并表示分拆可能会重新点燃不同业务领域的紧迫感。
However, he also noted that the probability of Google voluntarily breaking up is "exceptionally low."
但是，他还指出Google自愿拆分的可能性"极低"。
While a $GOOGL break-up could be in the company's best interest, the tech giant likely won't split into smaller parts willingly, says @deepwatermgmt's @munster_gene. He assesses the potential impact: pic.twitter.com/TVBqSkxVPU
— CNBC's Fast Money (@CNBCFastMoney) August 14, 2024
Deepwatermgmt的munster_gene表示，虽然$ GOOGL的分拆可能符合该公司的最佳利益，但这家科技巨头不太可能自愿分裂成更小的部分。他评估了潜在影响：pic.twitter.com/TVBqSkxVPU
——CNBC的“快钱”（@CNBCFastMoney）2024年8月14日
Why It Matters: The potential breakup of Google has been a topic of discussion among analysts and investors in light of the Department of Justice's (DOJ) investigation into Google's dominance in the search market.
考虑到司法部对其在搜索市场中占主导地位的调查，Google的潜在分拆一直是分析师和投资者讨论的话题。
Previously, Jefferies analyst Brent Thill also said that a breakup or business separation could benefit shareholders. "We don't believe a full breakup would happen. Even if it did, it would be good for shareholders because the sum of the parts is greater than the whole."
此前，杰富瑞分析师布伦特·希尔也表示，分拆或分业可能有助于股东。 "我们不相信会进行全面分拆。即使这样，股东仍将受益，因为零部件的总和大于整体。"
Wedbush's Dan Ives also stated that a breakup of major tech companies is "highly unlikely," adding that he expects "business model tweaks and heavier scrutiny of M&A."
Wedbush的丹·艾夫斯还表示，大型科技公司的分拆"极不可能"，并补充说他预计"业务模式调整和更严格的并购审查。"
Price Action: At the time of writing, Alphabet's Class A and Class C shares were both slightly down, trading at $159.75 and $161.48. During the regular session, Class A and Class C shares closed at $160.37 and $161.03, respectively, according to Benzinga Pro data.
价格走势：截至撰文时，Alphabet的A类和C类股票均略有下降，分别交易于159.75美元和161.48美元。据Benzinga Pro数据显示，在常规交易中，A类和C类股票分别收于160.37美元和161.03美元。
- Russia Strikes Back At Ukraine's Ground Incursion Into Kursk
- 俄罗斯反击乌克兰进犯库尔斯克的地面行动。
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
免责声明：本内容部分使用Benzinga Neuro制作，并由Benzinga编辑审核和发布。
Photo via Shutterstock
图片来自shutterstock。