Apple quietly makes billions from Google Search each year, and it’s a bigger business than Apple Music (AAPL, GOOG, GOOGL)
|02/13/2019||Posted by BusinessMediaguide.Com under General World News||
- Google paid Apple $9.4 billion in 2018 to be the default search engine on the iPhone, according to a new Goldman Sachs estimate.
- This makes Google’s payment to Apple worth as much as 23% of Apple’s services business, which the company has highlighted as its growth engine as iPhone sales slow.
- Google could pay Apple as much as $12.2 billion next year, according to Goldman’s model.
- Still, Apple’s services business may see slowing growth in the near future if it does not release a new content bundle, the Goldman analysts argue.
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