Apple stock surges on U.S. ruling that spares default search deal with Google

On Tuesday, a U.S. judge ruled mostly in favor of Alphabet’s Google, denying U.S. prosecutors’ request to force the company to divest its Chrome browser and Android operating system.
However, the judge ordered Google to share data with competitors to foster competition in online search.
Alphabet’s stock surged nearly 6.7% in after-hours trading as investors welcomed the decision.
While sharing data may bolster Google’s competitors in its dominant advertising sector, retaining Chrome and Android alleviates major investor concerns, as these are critical to Google’s ecosystem.
The ruling also reassured Apple and other device and browser makers, with U.S. District Judge Amit Mehta allowing them to continue receiving ad revenue-sharing payments from Google.
Morgan Stanley analysts noted Google pays Apple $20 billion annually for search-related services.Google plans to appeal the decision, which could delay implementation for years.
MacDailyNews Note: Apple stock surged in after-hours trading, up $7.48 (+3.26%) to $237.20.
MacDailyNews Take: Rejoice! Cook & Co. can continue being lazy/inept, taking $20+ billion payments from rival Google instead of developing their own search/AI. Market seems to love free money for doing nothing.

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