Apple's $20 Billion Ticking Time Bomb

As the world watched Apple attempt to chart its AI future at WWDC this week, a more consequential development for its near-term business brewed 3,000 miles east. In Washington D.C., a district court judge mulled whether to cut off the annual, multi-billion dollar payments Google sends Apple for the default search position in Safari. The payments, totaling approximately $20 billion per year, make up about 20% of Apple's Services revenue. If they were to go away, that Services business - Apple's only segment with meaningful growth - would contract, creating a potential crisis for the . . .