Official court rulings and public announcements by the DOJ

DOJ Rules Google's Apple Deal Illegal Monopoly, Puts $20 Billion at Risk

Aug 6, 2024, 07:59 PM

A recent antitrust ruling against Google could have significant financial implications for Apple. The U.S. Department of Justice (DOJ) determined that Google's search deal with Apple constitutes an illegal monopoly. This ruling threatens the annual $20 billion payment Google makes to Apple for being the default search engine on Apple devices. The fallout from this decision has already impacted Apple’s stock, as analysts predict a substantial hit to the company's bottom line if the ruling stands. Daniel Howley reported that the Alphabet-owned search giant's operations were deemed monopolistic.