"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."
"October 2020: The DOJ filed an antitrust lawsuit against Google-parent Alphabet, accusing the company of monopolizing the search advertising market. August 2024: Federal Judge Amit Mehta ruled against Alphabet, determining the company had engaged in illegal practices to maintain its monopoly in search advertising. November 2024: The Department of Justice proposed that Alphabet be forced to sell its Chrome browser and be prevented from paying Apple for"
Apple shares have declined 4% this year and the company has gone eight years without a groundbreaking new product. A federal judge found Alphabet had an illegal monopoly in internet search but declined to prohibit the company from paying search distribution partners such as Apple. Alphabet pays Apple more than $20 billion per year under an exclusive arrangement that makes Google Search the default on iOS devices, preserving that revenue stream. The U.S. Department of Justice filed an antitrust lawsuit in October 2020; Judge Amit Mehta ruled against Alphabet in August 2024; in November 2024 the DOJ proposed remedies including forcing Alphabet to sell Chrome and restricting payments to Apple.
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