Alphabet Stock Slips on Gemini Delay and EU Order Despite Buffett Bet

Alphabet shares fell over 4% to around $353 after the EU ordered Google to open 11 Android features to rival AI assistants and share anonymized Search data with competitors including OpenAI under the Digital Markets Act. The stock pullback erased gains from Warren Buffett's recent public endorsement, compounded by reports that Gemini 3.5 Pro's launch is delayed with engineers still working on coding performance while rivals reportedly outperform on enterprise benchmarks.

Why it matters: Wall Street expects Q2 EPS near $2.86 (up ~24% YoY) on July 22, with Google Cloud revenue growing 63% to nearly $20B last quarter, even as Alphabet guides to $180-190B in capital spending this year.