3 Oct

Amazon Emails Show Why Google Investors Should Worry about Oracle

WRITTEN BY Ruchi Gupta

Amazon (AMZN) documents may have helped the EU’s antitrust agency conclude that Google abused its Android software’s market dominance, The Telegraph reported on Monday.

Amazon emails allegedly show Google’s role in Fire Phone’s failure

The Amazon emails detail its communications with smartphone manufacturers, showing how some manufacturers feared running afoul of Google by working with Amazon on its smartphone project. Amazon wanted to base its smartphone on a forked version of Android software.

In the end, Amazon’s debut in the smartphone market with the Fire Phone in 2014 was unsuccessful. The company hasn’t released a smartphone product since.

Although Amazon’s smartphone venture flopped, the company went on to dominate a new category of consumer devices: smart speakers. Amazon finished the second quarter holding 21.9% of the global smart speaker market, according to Strategy Analytics. Google ranked second with 18.5% of the market, and Baidu ranked third with 15.3%.

Google fined $5.0 billion in EU antitrust investigation

The EU antitrust investigation Amazon contributed to resulted in a record $5.0 billion fine against Google last year. Google was also ordered to make several changes in how it licenses Android software to device manufacturers. Android software powers the vast majority of the world’s smartphones.

Oracle could put Google in a fix in US antitrust investigations

Like Amazon, Oracle (ORCL) could get Google into hot water. Google is facing US antitrust probes by congressional, federal, and state entities. Last week, Oracle revealed that congressional and state investigators had asked it for information about Google, Reuters reports.

Oracle has had a long-standing beef with Google. As we’ve discussed previously, the company has accused Google of infringing on its copyright in the making of Android software. As a result, Oracle is seeking almost $9.0 billion in damages from Google. Like Google, Amazon, Facebook, and Apple face congressional, federal, or state antitrust investigations.

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Since my last article about Nvidia (NVDA), the stock has risen from $196.86 to $208.57. I expect a further rise after today's earnings results.

TJX Companies (TJX) is scheduled to announce its fiscal 2020 third-quarter earnings results on November 19. Its third quarter ended on November 2.

AT&T stock is currently trending downward in today’s trading session. It’s down about 1% as of 11:52 AM ET. The stock fell after HSBC downgraded its rating.

Canopy Growth reported its second-quarter earnings results today. It's already down 16.07% on the day and is trading at 20.52 Canadian dollars on the TSE.

The EIA released its inventory report at 10:30 AM ET. WTI crude oil prices rose around 0.4% at 11:31 AM ET from their last closing level.

Alibaba stock has seen turbulence throughout the year, as the US and China have often been at odds. It fell around 2.4% on November 13.