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Technology Stocks : Apple Inc.
AAPL 273.67+0.6%Dec 19 3:59 PM EST

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From: Zen Dollar Round8/6/2024 8:01:33 AM
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Google guilty of monopoly abuse involving Apple

Google has been found guilty of illegal monopoly abuse in a huge federal trial that included evidence of Apple receiving billions of dollars a year from the company.
Google illegally maintains monopoly over internet search, judge rules

A judge on Monday ruled that Google’s ubiquitous search engine has been illegally exploiting its dominance to squash competition and stifle innovation in a seismic decision that could shake up the internet and hobble one of the world’s best-known companies. The highly anticipated decision issued by U.S. District Judge Amit Mehta comes nearly a year after the start of a trial pitting the U.S. Justice Department against Google in the country’s biggest antitrust showdown in a quarter century.

If Mehta decides to limit or ban Google’s default search deals, it could squeeze Apple’s profits, too. Although parts of his decision were redacted to protect confidential business information, Mehta noted that Google paid Apple an estimated $20 billion in 2022, doubling from 2020. The judge also noted Apple has periodically considered building its own search technology, but backed off that after a 2018 analysis estimated the company would lose more than $12 billion in revenue during the first five years after a break-up with Google.
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