Apple's lucrative deal with Google could be under threat after a U.S. judge ruled that the Alphabet-owned search giant was operating an illegal monopoly.
FILE PHOTO: People walk next to a Google logo during a trade fair in Hannover Messe, in Hanover, Germany, April 22, 2024. REUTERS/Annegret Hilse/File PhotoApple's lucrative deal with Google could be under threat after a U.S. judge ruled that the Alphabet-owned search giant was operating an illegal monopoly.
If the deal is undone, the iPhone maker could take a 4-6 per cent hit to its profit, the analysts estimated. Apple's shares were trading flat on Tuesday, underperforming a recovery in the broader market after Monday's global selloff. Alphabet was little changed, after falling 4.5 per cent in the previous session.
Analysts agree that the ruling will speed up Apple's move towards AI-powered search services. It recently announced that it would bring OpenAI's ChatGPT chatbot to its devices.
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