Jim Cramer criticizes DOJ’s stance on Google and possible breakup

CNBC’s Jim Cramer on Wednesday disagreed with the Department of Justice’s move to consider a possible breakup of Google, asserting that the company benefits consumers, businesses and the U.S.

“Google’s an aggressive company. It has big reach, got a lot of power, operates in many markets. But I defy you to find any regular people in this country who think of Google as a bad actor,” he said. “Google search is the most incredible bargain in the world, and the same goes for YouTube.”

The government filed a landmark case accusing Google of violating anti-monopoly laws in 2020, and in August a U.S. judge ruled that it had an illegal monopoly on search and text advertising. The DOJ on Tuesday made recommendations for Google’s search business and revealed it was considering a breakup of the company to remedy antirust issues.

In a filing released Tuesday, the DOJ said actions needed to “prevent and restrain monopoly maintenance could include contract requirements and prohibitions; non-discrimination product requirements; data and interoperability requirements; and structural requirements.”

Cramer also questioned the DOJ’s antitrust lawsuit against Apple and the Federal Trade Commission’s case that Amazon illegally wields monopoly power. These Big Tech outfits are “the envy of the world” and help investors make money on the market, he argues. Google, he added, has been “an incredible equalizer and an amazing learning tool.”

“I find this endless string of government investigations wrong-headed, pointless, and, frankly, even anti-American,” he stated.

Google declined to comment, and the Department of Justice did not immediately respond to a request for comment.

Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market.

Disclaimer The CNBC Investing Club Charitable Trust holds shares of Google, Apple and Amazon.