Alphabet Shares Face Months of Uncertainty on New Breakup Risk

Alphabet Inc. investors are facing a long period of uncertainty as they grapple with a scenario they previously saw as unlikely: a possible breakup of Google.

A bid to break up Google is being considered by the Justice Department, Bloomberg News reported Tuesday, with the most likely units for divestment the Android operating system and the Chrome web browser. The news surprised Wall Street, which had seen a breakupas unlikely even after a federal judge ruled earlier this month that Google has illegally monopolized the search market.

While dismantling the company is only one of the options that the ...