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Why the alphabet stock sank today



what happened

Class A and C shares letter (Nasdaq stock code: GOOGL) (Nasdaq stock code: GOOG) According to reports, today at 12:10 p.m. Eastern Time fell 5% and 4% apple (Nasdaq stock code: AAPL) The development of its competitive search engine is being accelerated. CEO Sundar Pichai also testified before Congress today to discuss Article 230 of the Communications Ethics Act.

So

For a long time, Google has paid Apple billions of dollars a year to make it the default search engine for iOS. This is a considerable deal for the two tech giants and has been scrutinized by antitrust regulators. A few days ago, the US Department of Justice formally filed an antitrust lawsuit against Google on the grounds that the arrangement undermined competition. The details of the transaction are closely guarded: Apple previously refused to tell Congress how much to get from Google, but analysts estimate that the transaction could be as high as $1

2 billion.

The appearance of Google Googleplex headquarters

Image source: Google.

According to Apple, due in part to strict scrutiny by legislators and regulators, Apple is now “intensifying efforts to develop its own search technology.” Financial Times. The Mac manufacturer confirmed years ago that it had created a web crawler called Applebot to index Siri and Spotlight web pages.

The report pointed out that in 2018, Apple poached Google’s former head of search and artificial intelligence (AI) John Giannandrea (John Giannandrea). He now serves as Apple’s head of machine learning and artificial intelligence.According to experts, Applebot’s activity is also increasing Financial Times.

How to do

Investors worry about one of Google’s most important business arrangements-the US Department of Justice (DOJ) estimates that half All Google search traffic comes from Apple gadgets-which may be at risk.

The Senate Commerce Committee also tried to assess whether Section 230 “has lapsed.” Section 230 protects technology platforms from responsibilities related to content posted by users.

Pichai said in his opening speech: “The United States adopted Article 230 early in the history of the Internet. This is the foundation for the United States’ leadership in the field of technology.” “It protects the freedom to create and share content, while supporting various The ability of large-scale platforms and services to handle harmful content in a responsible manner.”




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