Alphabet stock fell 7% on 7 May 2025—not because of earnings, but because of a remark by an Apple executive. What could he have said to trigger such a reaction? Eddy Cue, Apple’s SVP of Services, testified that Google search volume on Safari had declined “for the first time in 22 years.” He attributed this to users shifting to AI tools like ChatGPT, Perplexity, and Gemini. In short, he hinted that AI is reshaping how we search—and potentially undermining Google’s dominance for good. Given that Search is Alphabet’s core revenue engine, this comment spooked the market. Fewer users on Google means fewer ad impressions. And fewer impressions mean lower ad revenue—plain and simple. Google Still Dominates—and Is Still Growing This isn’t the first time we’ve heard that Google Search is under existential threat. When ChatGPT first launched, and Microsoft quickly integrated it into Bing, many wondered if Google’s reign would end. But the buzz faded. Today, Bing remains a distant second....