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Apple’s stock price surged overnight following the Google antitrust ruling, with investors happy that Apple’s lucrative Safari default search engine payments will continue without issue.
Apple’s share price has shot up thanks to the federal ruling
On Tuesday, a federal ruling in Google’s antitrust case against the Department of Justice allows Google to maintain payments to distributors for favoring its products and services. To Apple, this is a massive ruling that maintains a deal to keep Google as the default search in Safari.
The ruling, which lets Google continue to pay Apple in a deal valued in the region of $20 billion per year, was certainly welcomed by investors in the iPhone maker.
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