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Its nifty restructuring has impressed Wall Street analysts but the company still has to pander to the short-term needs of investors

Google’s bombshell announcement that it’s going to fold itself into a new conglomerate called Alphabet has been met with overwhelmingly positive responses from the financial markets and technology pundits alike.

It will no longer live by search alone: stand-alone companies will advance Google’s nascent efforts in fields such as health, energy and transport.

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