US EditionGoogle shares plunge 7% as Apple exec cites AI competition
- Alphabet shares dropped more than 7% on Wednesday after Apple exec Eddy Cue testified about AI competition affecting Google's search business.
- Cue revealed Apple is actively considering AI-powered search alternatives in Safari, challenging Google's $20 billion deal as the default search provider.
- The stock decline broke below a key technical trendline with heavy volume, signaling a continuation of Alphabet's downtrend amid growing AI adoption pressures.
- Alphabet shares dropped 7.51% to $152.80 and have fallen 20% year-to-date as growth in paid clicks slowed, while activity on Safari's search engine experienced a historic early decline amid rising use of AI-powered alternatives.
- The event suggests Google's dominant search position faces erosion from AI-driven options, with potential revenue risks and ongoing legal scrutiny over its mobile search deals.
19 Articles
19 Articles
Apple says AI is cutting into Google search. Google says that's not true. Who's right?
Apple says AI engines like ChatGPT are cutting into Google search.Smith Collection/Gado/Getty ImagesGoogle stock tumbled Wednesday after Apple's executive Eddy Cue said AI rivals were cutting into the search giant.Google responded by saying that's not the case.It's possible that both arguments are correct. The stakes are very high.Is Google screwed?That's the $2 trillion question the tech world is trying to understand following Wednesday's block…
'AI Is Eating Search' Google Rival Perplexity CEO Arvind Srinivas Says As Dan Nile Predicts 'Agents' To Take Future Share Amid Alphabet, Apple Stock Fall - Alphabet (NASDAQ:GOOG), Apple (NASDAQ:AAPL)
Market giants Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) and Apple Inc. (NASDAQ:AAPL) saw their stocks tumble on Wednesday after reports suggested Apple may be reconsidering its lucrative search partnership with Google, with artificial intelligence emerging as the catalyst for potential industry disruption. What Happened: Apple’s Senior Vice President of Services, Eddy Cue, testified in a U.S. antitrust trial that the company is “actively lookin…
Stock Market Blog: Google Takes Hit From Apple Search Engine Intervention, Wall Street Wins
On Wall Street, the stock markets booked profits after the US interest rate decision - no change - by the Federal Reserve. Google parent Alphabet fell by up to 8% now that Apple is apparently equipping its Safari search engine with AI. Disney gained 11% on quarterly figures. The AEX closed flat to slightly positive on Wednesday at 896.02 points. This profit is driven by gains from Besi, UMG, Adyen, Ahold Delahaize and ASMI. Ahold reached its hig…
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