Apple Involved in Google's Antitrust Trial Over Search Engine Payments

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14 hours ago
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Apple has requested to participate in Google's upcoming online search antitrust trial in the United States. The tech giant argues that it cannot rely on Google to maintain their revenue-sharing agreement. Google pays Apple billions annually to keep Google as the default search engine on Apple's Safari browser.

In court documents filed in Washington, Apple's lawyers stated that the company does not plan to develop its own search engine to compete with Google, regardless of whether Google continues its payments. In 2022, Apple earned approximately $20 billion from its agreement with Google.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.