```“Just two firms (Google and Facebook) take in the lion’s share of online ad spending,” Delrahim noted. (Market researcher Gartner estimates Google and Facebook will command 75% of digital ad revenue world-wide by 2020.)
Each of the four companies could be penalized to some degree—from injunctive (Apple) to structural (Facebook)—but a breakup of any kind is “highly unlikely,” says Herbert Hovenkamp, a professor at the University of Pennsylvania who teaches at both its law and business schools.
Those who closely follow U.S. regulators don’t expect radical changes but prescriptive measures that mollify lawmakers and privacy advocates. The big investment banks seem to be operating under the same presumption. For now, none of the four companies under regulatory scrutiny have received downgrades from top-level Wall Street firms.```
