"Apple stock struggled earlier this year, as investors worried that President Donald Trump's tariffs would significantly upend the iPhone maker, which has most of its supply chain abroad in countries like China, Vietnam, and India. But recently, Apple managed to get an exemption from several of the tariffs by promising to invest hundreds of billions in the U.S. Now, the ruling on the Google lawsuit is another big win."
"Shares of the large consumer tech company Apple (NASDAQ: AAPL) traded over 3% higher, as of 10:54 a.m. ET today. The move comes after a U.S. federal judge ruled that Alphabet, the parent company of Google, would not have to divest Chrome and could keep paying partners to feature its search engine on their web browsers."
"Furthermore, Mehta ruled that Alphabet can keep paying partners to feature the Google search engine on their browsers, and this is why Apple stock is trading well today. Prior court filings revealed that Alphabet paid Apple $20 billion in 2022 to have Google as its default search engine on its web browser."
A federal judge ruled that Alphabet does not have to divest Chrome and may continue paying partners to make Google the default search engine in their browsers. The judge previously found illegal monopoly behavior related to digital advertising but declined the DOJ's requested divestiture of Chrome. Prior filings show Alphabet paid Apple $20 billion in 2022 to keep Google as the default search on Apple devices. Apple shares rose more than 3% on the ruling. Apple previously faced tariff-driven supply chain concerns but obtained exemptions by promising substantial U.S. investments, reducing near-term investor worries.
Read at Aol
Unable to calculate read time
Collection
[
|
...
]