"A federal judge last year found that Alphabet had an illegal monopoly in internet search, but he recently declined to prohibit the company from paying search distribution partners such as Apple. Alphabet pays Apple more than $20 billion per year as part of an exclusive arrangement that makes Google Search the default option on iOS devices; the judge's ruling preserves that revenue stream."
"Nevertheless, Apple is still the second-most expensive "Magnificent Seven" stock, and the company has now gone eight years without introducing a groundbreaking new product. 10 stocks we like better than Apple › Shares of Apple (NASDAQ: AAPL) have declined 4% this year, making it the second-worst performing member of the "Magnificent Seven." Only Tesla has declined more sharply. But Apple recently caught a big break when a federal judge ruled on remedies in an antitrust lawsuit involving Google-parent Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG)."
A federal judge determined that Alphabet engaged in illegal practices to maintain a monopoly in internet search but declined to bar payments to search distribution partners like Apple. Alphabet pays Apple more than $20 billion per year to make Google Search the default on iOS devices, and the judge's remedies ruling preserves that revenue stream. Apple shares have fallen about 4% this year, ranking as the second-worst performer among the "Magnificent Seven," and Apple has gone eight years without a groundbreaking new product. The DOJ previously filed an antitrust suit in October 2020; Judge Amit Mehta ruled against Alphabet in August 2024, and the DOJ proposed stronger remedies in November 2024.
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