Apple Inc’s AAPL stock dipped 2.1% to $194.35, while Alphabet Inc GOOGL GOOG shares plunged 5.7% to $153.95 on Wednesday, following reports that Apple may be rethinking its long-standing partnership with Google.

What To Know: As reported by Bloomberg, Apple’s senior vice president of services, Eddy Cue, testified in a U.S. antitrust trial on Wednesday that the company is “actively looking at” integrating an AI-powered search engine into Safari, its default web browser.

Cue indicated Apple is evaluating alternatives like OpenAI, Anthropic and Perplexity AI, the companies behind popular AI tools like ChatGPT, Claude and Perplexity Assistant. He noted that Safari searches declined for the first time last month, citing AI tools as a key reason.

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Though Cue said Google should remain Safari’s default search engine for now — especially given the estimated $20 billion annual revenue Apple receives from the deal — he acknowledged that AI represents a major industry shift.

The Apple executive believes emerging AI platforms could eventually outperform traditional search, adding that Apple has already begun talks with Perplexity.

Alphabet investors responded sharply to the news, likely concerned about Google’s long-term search dominance, which has faced increasing threats amid the emergence of AI tools.

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According to data from Benzinga Pro:

• AAPL has a 52-week high of $260.09 and a 52-week low of $169.21.
• GOOGL has a 52-week high of $207.05 and a 52-week low of $140.53.