Nick Griffin, founder and CIO of Munro Partners, writes for LiveWire Markets:

Alphabet’s first quarter result demonstrated a slowdown in websites revenue (advertising revenue from Google websites). The quarterly number only came in 1% below consensus estimates (excluding the impact of any FX), with many commentators pointing out that this was the first time their websites growth has been below 20% in 17 quarters (excluding FX). Following on from the ‘weak’ result, sentiment has been further dented by news that the Department of Justice is set to open an investigation into Alphabet and other big techs’ market power raising concerns as to a potential ‘break up’ of big tech to level the playing field.

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