Apple Google Search Engine Deal Under Fire Alphabet Shares Tumble

Alphabet Inc. (NASDAQ: GOOGL) saw its shares plummet by 7% following a testimony from an Apple executive during a prominent antitrust trial involving Google.

The revelations have reignited concerns over Google’s dominance in the search engine market and its lucrative agreement with Apple.

Apple Exec’s Testimony Raises Red Flags for Google Alphabet Stock Drops 7%

According to the Apple executive, Google pays billions of dollars annually to remain the default search engine on iOS devices.

This disclosure has drawn renewed regulatory scrutiny, potentially impacting Google’s search engine revenue model. Following the news, investors quickly offloaded Alphabet shares, resulting in a significant decline in the company’s stock price.

Analysts warn that further revelations during the trial could disrupt Google’s existing business deals and potentially alter the competitive dynamics within the tech sector.

Market experts suggest that the trial’s outcome could have extensive implications for both Alphabet and Apple, possibly reshaping current agreements and influencing future partnerships.

As of now, Alphabet has not issued any official statement regarding the testimony or its potential impact.

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