What happened to Google stock today?

😀🥲😗😍🐈‍⬛

What happened to Google stock today? ‼️

It all started with a small slip of the tongue from one of Apple's executives, Eddy Cue 💬

He spoke about how, for the first time, browser searches dropped by 5% 📉

What is the default browser on the iPhone? 👀

You guessed right, Google's search engine.. 📱

But wait, it doesn't end there... 🤌

What is behind investors' fear? 🚩

The two words 'artificial intelligence' 🤖

This surprising data point coming from Apple seemingly hides a very important fact ℹ️

- Where did all those users go? 🔍

They are using artificial intelligence engines to get the information they need 🔍

They are stopping 'free searching'; they are starting to ask for specific and precise information.. 🤖

And what does Apple think about this? ❓

Apple sees this as nothing less than an 'opportunity' ✨

The same executive mentions during the discussion that Apple is in talks with software companies that have developed artificial intelligence models to integrate them into Apple's browser ⚠️

Now understand, Apple holds an impressive 17% of the global search market, which is a lot 💵

This is such an important market share that Google is willing to pay $20 billion for it in 2023 ☄️

Investors hear all this and put two and two together 💭

And Google stock dropped by 10% 🔽

- This led to Google's worst day since October 2023 and its seventh largest loss in the last 20 years 🔖

As of now, Google stock is correcting and is down 'only' about 7% 📉

What do you think about the market's reaction to the news?

Exaggerated 🦄

Correct 🏆