Google Antitrust Ruling May Pose $20 Billion Risk for Apple

Apple’s lucrative deal with Google could be under threat after a U.S. judge ruled that the Alphabet-owned search giant was operating an illegal monopoly. A potential remedy for Google to avoid antitrust actions could involve terminating the agreement, which makes its search engine a default on Apple devices, Wall Street analysts said on Tuesday. Google pays Apple $20 billion annually, or about 36 percent of what it earns from search advertising made through the Safari browser, for the privilege, according to Morgan Stanley analysts. If the deal is undone, the iPhone maker could take a 4–6 percent hit to its profit, the analysts estimated....