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Apple risks $12.5 billion revenue hit as judge weighs Google antitrust remedies, JPMorgan warns
The worst-case scenario is that Apple loses 15% of its earnings per share.
Apple could lose up to $12.5 billion in annual revenue if a federal judge forces Google to change the way it pays for its search engine agreements, according to a new note from JPMorgan. The DOJ’s landmark case, which concluded in 2023, accused Google of maintaining that illegal monopoly by paying billions to device makers and browser developers, including Apple, to be their default search engine. While analysts note that the unlikely scenario of a full loss of TAC revenue would be painful, Apple has significant resources to absorb the impact or negotiate alternative deals.
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