Alphabet stock jumped over 7% on Tuesday after a judge ruled that Google can keep Chrome and Android but must share data with rivals, a decision reshaping competition and boosting Apple, too.
This decision will allow Apple to continue collecting billions from Google for search defaults and strengthen Apple’s bottom line, which Morgan Stanley analysts estimate is worth about $20 billion annually. Apple rose 3% after the news.
It also preserves Google's role as the default search engine on iPhones, meaning users will not notice much change, but also keeps rivals like DuckDuckGo or Bing at a disadvantage.
"Now the Court has imposed limits on how we distribute Google services, and will require us to share Search data with rivals," Google said in a statement. "We have concerns about how these requirements will impact our users and their privacy, and we’re reviewing the decision closely. The Court did recognize that divesting Chrome and Android would have gone beyond the case’s focus on search distribution, and would have harmed consumers and our partners."
