Google Shares Plunge After Apple Executive Testifies On Search Decline

Alphabet, Google’s parent company, lost more than 8% in value after Apple executive Eddy Cue testified that Google search traffic on Apple devices declined last month—the first time in 22 years, Agence France-Presse’s Alex Pigman reported.

Cue’s testimony indicated growing user preference for AI search alternatives like ChatGPT and Perplexity. I Photo: Apple

Cue revealed the drop during a landmark antitrust trial in Washington, where Judge Amit Mehta is weighing remedies for Google’s previously determined illegal search monopoly.

Cue’s testimony indicated growing user preference for AI search alternatives like ChatGPT and Perplexity, sending Alphabet shares tumbling and erasing over $170 billion in market value.

Cue also suggested Apple may soon switch to offering AI-powered search tools as default options on its devices, further deepening investor concern over Google’s reliance on mobile search advertising.