靴子终于落地，谷歌逃过一劫。 近日，美国华盛顿特区联邦地方法院就谷歌与美国司法部反垄断案中，有关"结构性补救措施"做出裁 决，法官表示不会强制要求谷歌剥离其Chrome浏览器或Android操作系统。 不仅如此，谷歌方面甚至不需要放弃此前与苹果达成的协议，即向其支付数十亿美元来换取谷歌搜索被 设置为iPhone、Safari的默认选项。当然，法官也确认未来谷歌将不得签订排他性的独家搜索引擎合作 协议，且必须向竞争对手共享搜索数据。 此前外界盛传的"拆分谷歌"终究还是落空了，AI搜索独角兽Perplexity等公司想要买下Chrome显然是彻 底没戏。从"要被大卸八块"到"只伤了点皮毛"，也难怪谷歌母公司Alphabet的股价随即大涨5.77%。那 么问题就来了，谷歌为何能极限翻盘，把自己从悬崖边拉回来呢？ 02 虽然将Chrome从谷歌手中剥离确实能解决其对于浏览器市场的控制，可代价是已经稳定运行的全球互 联网生态，势必会迎来一次"小行星撞地球"般的冲击。因为一旦法院做出拆分Chrome的判决，就意味 着互联网厂商基于网络效应追求垄断的商业模式被否定，即便谷歌垄断浏览器市场是坏的，难道Meta 占据社交赛道、 ...

Core Viewpoint - Apple Inc. is urging the European Union to reconsider the Digital Markets Act (DMA), claiming it poses privacy risks to users and hinders innovation [1][2][4]. Group 1: Apple's Opposition to DMA - Apple has reiterated its opposition to the DMA, which was implemented to protect consumers and prevent abuse of dominance by major tech firms [2][3]. - The company has requested the European Commission to repeal or scale back the DMA, arguing that it disrupts the user experience and exposes users to new risks [2][4]. Group 2: Risks Highlighted by Apple - Apple has expressed concerns that the DMA forces the hosting of external payment services and allows sideloading, which could lead to malware or scams for iPhone users [5]. - The company also warned that allowing other firms to request user data could compromise sensitive information [5]. Group 3: European Commission's Response - The European Commission has stated it will not repeal or modify the DMA in response to Apple's complaints, emphasizing that the act aims to provide consumers in the EU with more choices and ensure fair competition among businesses [5][6].

Core Viewpoint - Apple is urging EU antitrust regulators to repeal the Digital Markets Act (DMA), claiming it poses privacy risks to users and could stifle innovation [1][2] Group 1: Apple's Opposition to DMA - Apple has reiterated its opposition to the DMA, which was implemented by the EU to protect consumer rights and prevent large tech companies from abusing their dominant positions [1] - The company emphasizes that while it is complying with the rules, it calls for a closer examination of the regulations' impact on individuals and businesses in the region [1][2] Group 2: Risks Associated with DMA - Apple argues that mandatory use of external payment services and allowing sideloading could expose iPhone users to malware and scams [2] - The company also expresses concerns that allowing other companies to access user data could lead to sensitive information leaks [2] Group 3: Financial Implications and Penalties - In April, the EU Commission fined Apple €500 million (approximately $588 million) for violating rules that allow developers to direct users to shop outside the Apple Store, which Apple is appealing [2] - The DMA targets companies with annual sales of at least €7.5 billion or a market capitalization of €75 billion in the 27 EU countries [2] - Other large tech companies, such as Meta, have also faced fines under this regulation, with the EU imposing significant penalties on firms like Google, totaling over $8 billion [2]

Core Viewpoint - The article discusses an ongoing antitrust case against Google, focusing on its alleged monopoly in the digital advertising sector, with significant implications for the company's operations and potential penalties [1][2][3]. Group 1: Antitrust Case Details - The case centers on ad tech, which refers to the software used for buying and selling digital ads [1]. - U.S. District Judge Leonie Brinkema is set to hear testimonies from various stakeholders, including Google employees, advertisers, and publishers, regarding Google's monopoly in the online advertising industry [2]. - The Justice Department, along with a bipartisan coalition of 17 states, accused Google of employing illegal tactics to suppress competition in 2023 [3]. Group 2: Previous Rulings and Market Context - Earlier this month, U.S. District Judge Amit Mehta ruled against imposing significant changes to Google's search business, citing the emergence of AI-driven competitors [4]. - Mehta's decision allows Google to continue making payments for product distribution, although it cannot pay to be the exclusive search engine on devices and browsers [5]. - Legal experts suggest that the current case may lead to more severe penalties for Google, as the ad-tech space remains less affected by AI advancements compared to search [6].

Without a big overhang of uncertainty, these two stocks are free to keep climbing higher.Big tech stocks produced some of the biggest gains in the current bull market, which dates back to October 2022.Nvidia, already an industry giant with a market cap around $300 billion at the start of the bull market has seen its value climb more than 14-fold in just a few years to become the first $4 trillion company. That growth was driven by massive spending on artificial intelligence and investor excitement about the ...

Core Viewpoint - Apple has avoided significant negative impacts from a recent antitrust ruling involving Alphabet, which is beneficial for its revenue stream from search engine agreements [1][5]. Group 1: Antitrust Lawsuit Developments - The U.S. Department of Justice (DOJ) has filed and won two antitrust suits against Alphabet, focusing on its monopolistic practices in internet search and adtech software [3]. - A federal judge ruled against the DOJ's most severe remedies, allowing Alphabet to maintain control over its Chrome browser, which is crucial for its advertising revenue [3][4]. - The judge prohibited exclusive agreements in the future but allowed Alphabet to continue paying Apple for default search placement on iOS devices, preserving a significant revenue stream for Apple [6][4]. Group 2: Financial Implications for Apple - Alphabet pays Apple over $20 billion annually to be the default search engine on iOS devices, which is a critical part of Apple's services revenue [5]. - Following the antitrust ruling, analysts have slightly increased their target prices for Apple, with the average target price rising to $237 per share from $231 per share [7]. - Despite the increase, the consensus target price implies about 4% downside from the current share price of $240, indicating that Apple remains expensive compared to other tech companies [8]. Group 3: Valuation Metrics - Apple's stock trades at 36 times earnings, which is considered high given the expected annual earnings growth of only 10% over the next three years [8]. - The price-to-earnings-to-growth (PEG) ratio for Apple is 3.6, significantly higher than Alphabet's 1.7, Amazon's 1.9, Meta Platforms' 1.5, Microsoft's 3, and Nvidia's 1.2 [9]. Group 4: Innovation Concerns - Apple has not launched a groundbreaking new product in the last eight years, raising concerns about its innovation pipeline following the introduction of major products like the iPhone and iPad [10].

Core Viewpoint - Apple is set to launch its iPhone 17 lineup next week, alongside a significant software update rumored to enhance Siri with AI capabilities in iOS 26.4, expected to arrive as early as March 2026 [1]. Group 1: Siri Upgrade and AI Integration - Apple is developing a new Siri feature called World Knowledge Answers, which is an AI-driven search tool that will provide detailed responses using web data, images, video, and local information [2]. - The new Siri upgrade will initially be exclusive to the Siri app, with plans to extend the AI search tool to Safari and Spotlight in the future [4]. - The integration of AI-driven search into Siri positions Apple to compete with rapidly growing rivals like OpenAI and Perplexity, indicating its intent to catch up in the generative AI sector [5]. Group 2: Collaboration with Google - Apple may collaborate with Google to test a custom version of the Gemini model to enhance parts of the new search tool, while Apple's own models will manage personal data and device context [2]. - A recent court ruling upheld a lucrative $20 billion arrangement between Apple and Google, allowing Google to remain the default search engine in Safari, providing Apple with financial flexibility to explore new web query handling methods [5].

Core Viewpoint - Apple is experiencing a significant stock price increase, driven by its plans to develop an AI search tool to compete with ChatGPT, which is expected to enhance its voice assistant strategy [1][3]. Group 1: Stock Performance - Apple stock rose by 3.8% on September 2, nearing its all-time high, now just 9% away [1]. - The average stock price rating for Apple is "Moderate Buy," with a 12-month target price of $239.36, indicating a modest upside of 0.74% based on 29 ratings [2]. Group 2: AI Development - The new AI tool, named World Knowledge Answers, aims to be integrated into Safari, Spotlight, and Siri, reducing reliance on third-party technologies [3]. - This move aligns with industry trends, as competitors like Microsoft and Alphabet are also enhancing their AI capabilities [3]. Group 3: Market Dynamics - Discounts in China have helped Apple maintain market share against Huawei, while tariff exemptions have mitigated cost pressures [4]. - A recent ruling that upheld Apple's revenue-sharing agreement with Google, which contributes approximately 20% to Apple's operating profit, has provided additional support [4]. Group 4: Valuation Concerns - Despite the positive developments, Apple's stock is trading at over 30 times next year's earnings, indicating potential valuation concerns [5].

Acquisition Details - Atlassian has agreed to acquire The Browser Company for $610 million in cash [1][2] - The deal is expected to close in Atlassian's fiscal second quarter, ending in December [2] Company Background - The Browser Company was established in 2019 and has competed against major players like Google and Apple [2] - The startup launched its customizable browser, Arc, in 2022, which includes features like a built-in whiteboard and group tab sharing [3] Product Features and Challenges - Arc is designed to help users manage their work more effectively, with features for organizing tabs and archiving old ones [4] - Despite its innovative features, only a small percentage of Arc users have adopted these special functionalities [4] - The Browser Company has shifted focus away from developing new features for Arc, raising questions about the potential release of the browser under an open-source license [5]

Company Analysis - A federal judge ruled that Alphabet Inc Class C (GOOG) can continue paying Apple Inc (AAPL) to be the default search engine for Safari, with Google having paid Apple between $15 billion and $20 billion in recent years [14] - The ruling is seen as a best-case scenario for Apple, as it may provide more leverage around search engines and open doors for partnerships with AI-enabled competitors [14] - The ruling is also viewed positively for Alphabet, as it removes an overhang that could allow the company to achieve a higher price-to-earnings (PE) ratio [14] - However, the ruling may not be as beneficial for Google as investors believe, as it requires Google to open its search data to competitors, potentially impacting its market share [14] Industry Context - The geopolitical landscape is shifting, with leaders from China, Russia, and North Korea displaying unity, which may have long-term negative implications for U.S. markets while being positive for markets in China and India [14] - Salesforce Inc (CRM) has replaced 4,000 customer service employees with AI, indicating a trend towards automation in the industry [14]