Why Alphabet Stock Is Plummeting Today -- Could the Tech Giant's Search Fears Finally Be Coming True?
Shares of Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) are falling on Wednesday. The company's stock lost 7.8% as of 1:27 p.m. ET and as much as 9.5% earlier in the day. The leg down comes as the S&P 500 (SNPINDEX: ^GSPC) gained 0.4% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 0.1% on the day.An Apple executive's legal testimony Wednesday is sending shock waves through the tech community.Bloomberg is reporting that Eddy Cue, Apple's senior vice president of services, testified Wednesday that Apple is "actively looking at" reshaping the Safari web browser on its devices to focus on artificial intelligence (AI)-powered search engines. The revelation came during Cue's testimony in the U.S. Justice Department's antitrust lawsuit against Alphabet -- Google's parent company -- which centers on the cornerstone deal that makes Google the default search engine in Apple's Safari browser.Continue reading
Shares of Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) are falling on Wednesday. The company's stock lost 7.8% as of 1:27 p.m. ET and as much as 9.5% earlier in the day. The leg down comes as the S&P 500 (SNPINDEX: ^GSPC) gained 0.4% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 0.1% on the day.
An Apple executive's legal testimony Wednesday is sending shock waves through the tech community.
Bloomberg is reporting that Eddy Cue, Apple's senior vice president of services, testified Wednesday that Apple is "actively looking at" reshaping the Safari web browser on its devices to focus on artificial intelligence (AI)-powered search engines. The revelation came during Cue's testimony in the U.S. Justice Department's antitrust lawsuit against Alphabet -- Google's parent company -- which centers on the cornerstone deal that makes Google the default search engine in Apple's Safari browser.
