Apple, Google stocks jump on antitrust ruling preserving Safari default search deal

After a U.S. federal judge issued his Google antitrust remedies after the close on Tuesday, the share prices of Apple and Google parent Alphabet surged in after-hour and pre-market trading.
Ed Carson for Investor’s Business Daily:
‎

Late Tuesday, U.S. District Judge Amit Mehta ruled that Google will be barred from exclusive search deals and must share search data. But the tech titan will not have to divest its Chrome browser or face other, more-serious penalties. Mehta also didn’t bar Google from making payments to third parties for default browser placement, suggesting that a Google-Apple search deal can continue.
The remedies ruling came nearly a year after Mehta said that Google had an illegal monopoly over online search. Google will appeal the ruling.
Google stock jumped in overnight trade, signaling a record high as Mehta’s antitrust remedies weren’t as harsh as feared.
Apple stock climbed solidly, pointing to a breakout above a 235.12 handle buy point.

‎
MacDailyNews Take: Apple is currently trading in the pre-market up $8.32 (+3.62%) to $238.04.
‎
Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
The post Apple, Google stocks jump on antitrust ruling preserving Safari default search deal appeared first on MacDailyNews.