The tech world held its breath, watching as a major court decision landed for Apple and Google. At its heart was a long-speculated arrangement: Google’s search engine powering Safari browsers on Apple devices. This particular deal has been a goldmine for Apple, bringing in over $20 billion every year. Despite years of facing monopoly accusations, this lucrative partnership looks set to continue.
Judge Amit Mehta delivered a clear verdict. He stated that Google can no longer make exclusive deals with any company. This part aims to prevent a total lock-up of the market. However, the ruling also clarified something crucial. Agreements that simply set a default search engine in various browsers, like Safari, are still allowed. This distinction is the key reason why the multi-billion dollar agreement between the two giants survived.
This outcome brought immediate relief to both tech companies. Apple’s stock price quickly climbed 4.3% in pre-market trading, reaching $239.50. Google’s shares also saw a significant boost, rising 8.7%. This jump shows that investors are feeling more confident after months of uncertainty. The ruling brings an end to a high-profile case. The U.S. Department of Justice first sued Google last year. They accused Google of unfairly dominating the online search and search advertising markets.