US EditionGoogle Stock Drops $160 Billion As Apple Executive Suggests Google’s Safari Dominance May Be Waning
- Eddy Cue, who oversees Apple's services division, provided testimony on Wednesday during a federal antitrust trial in Washington related to the ongoing lawsuit against Google.
- The testimony followed a 2023 ruling that found Google illegally monopolized online search and focused on Google's billions-paid agreements with Apple for Safari default status.
- Eddy Cue noted that the number of searches conducted through Safari dropped in April for the first time, a trend he linked to the increasing use of AI-powered search tools, which Apple plans to integrate into the browser from providers like OpenAI and Perplexity.
- Alphabet shares fell more than 7%, wiping over $140 billion in market value, while Apple shares dropped 2% amid investor concerns over search dominance shifts.
- The developments suggest potential changes to the Google-Apple search partnership and signal increased competition from AI tools in the online search market.
35 Articles
35 Articles
1st time in 2 decades: Google search traffic on Apple devices falls
WASHINGTON, United States — Shares in Google parent Alphabet plunged more than 8 percent on Wednesday after Apple executive Eddy Cue testified in federal court that Google’s search traffic on Apple devices declined last month for the first time in over two decades. Cue, Apple’s senior vice president of services, told the Washington antitrust trial
An Apple executive sparked a Google stock selloff. Don’t panic, analyst says
Google (GOOGL) stock slid 7% on Wednesday after Apple’s (AAPL) head of services, Eddy Cue, dropped a bombshell during antitrust testimony: Safari search volume had declined in April for the first time in over two decades.Read more...
Google shares plunge after Apple executive's court testimony
Shares in Google parent Alphabet plunged more than eight percent on Wednesday after Apple executive Eddy Cue testified in federal court that Google's search traffic on Apple devices declined last month for the first time in over two decades.Cue, Apple's senior vice president of services, told the Washington antitrust trial that Google was losing ground to AI alternatives like ChatGPT and Perplexity.His revelation that this decline "has never hap…
Google shares plunge after Apple executive’s court testimony
Shares in Google parent Alphabet plunged more than eight per cent on Wednesday after Apple executive Eddy Cue testified in federal court that Google’s search traffic on Apple devices declined last month for the first time in over two decades.
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