- Apple’s move to develop an AI-focused browser threatens Google’s default search position on iOS, triggering a sharp selloff in Alphabet shares and a break below key technical levels.
Apple has confirmed it is actively exploring a redesigned web browser across iPhone, iPad, and Mac with a focus on AI-powered search. The potential shift away from Google as the default search provider on iOS devices, poses a direct risk to Alphabet’s search business.
Alphabet shares fell $14.11 (-8.54%) to $151.09 USD on the news, breaking below the 50-day moving average at $162.00 and the 23.6% Fibonacci retracement from the February high and April low, after finding resistance at the 38.2%.
From its February high, Alphabet is now down 27.1%, with a year-to-date loss of 21.1%.
While the stock remains above its 2025 low of $140.53, downside levels to monitor include ~$145.90.
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