A federal court's ruling that Google violated antitrust law and illegally maintained a monopoly could put exclusivity payments to partners like Apple in jeopardy.
Apple's lucrative deal with Google could be under threat after a U.S. judge ruled that the Alphabet-owned search giant was operating an illegal monopoly. A potential remedy for Google to avoid antitrust actions could involve terminating the agreement, which makes its search engine a default on Apple devices, Wall Street analysts said on Tuesday.
The pact runs until at least September 2026 and Apple has the right to unilaterally extend it for another two years, according to media reports in May that cited a document filed by the Department of Justice in the antitrust case.
Apple's shares were trading flat on Tuesday, underperforming a recovery in the broader market after Monday's global selloff. Alphabet was little changed, after falling 4.5% in the previous session.
In a shift away from exclusive deals that would help Apple ward off regulatory scrutiny, the company has said it is also in talks with Google to add the Gemini chatbot and plans to add other AI models as well. Apple is also revamping Siri with AI technology, giving it more control to handle tasks that had proven tricky in the past such as writing emails and interacting with messages.
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