Alphabet's $20 Billion Apple Deal: Impact on Tech Giants
Well, Alphabet paid Apple $20 billion in 2022 for Google to be the default web search option on the iPhone. It’s according to documents from the Department of Justices antitrust case against Alphabet. Well, it’s the first public confirmation of just how much the agreement is worth, and the government alleges Google has illegally monopolized the online search and ad market with deals like the Apple agreement. Well, Alphabet pays an additional 1 1/2 billion dollars to wireless carriers and $150 million a year to web browsers for similar default status. In 2020 / 17% of Apple’s operating income came from Alphabet. And let’s take a look at these shares in the past 24 hours, Apple up almost 8% and Alphabet higher by about half a percent. So Apple of course getting a boost on the back of its latest earnings report.