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On Tuesday, Bank of America (BofA) analysts highlighted a shift in browser usage as a contributing factor to the discrepancy in query volumes reported by Apple (NASDAQ:AAPL) and Google. The analysis comes as Google, with its impressive $1.96 trillion market capitalization and 13% year-over-year revenue growth, continues to dominate the interactive media services industry. The April 2025 global Statcounter browser data indicated that Google Chrome increased its year-over-year share by 89 basis points (bps), while Safari’s share decreased by 86 bps.According to InvestingPro data, Google’s strong market position is supported by robust financials, including a healthy 58.6% gross profit margin and significant cash flows that exceed debt obligations.
The data suggests that in April 2025, Google Chrome’s market share rose to a level that outpaced Safari’s, with the latter’s share dropping from 18.1% to 17.2%. This change in browser preference could potentially translate to a 5 percentage point year-over-year decline in global Safari queries, assuming that the total number of browser queries remained relatively flat compared to the previous year. With a return on equity of 35% and consistent profitability over the last decade, Google’s browser dominance reflects its broader market strength.
The shift in browser shares and the resulting impact on query volumes come amidst a broader conversation about the performance of tech companies and their services. BofA’s analysis seeks to clarify the apparent contradiction between Apple’s reported decline in Safari queries during April and Google’s claim of growing query volumes on Apple devices.
The assessment by BofA analysts indicates that despite the fall in Safari’s browser share, the overall effect on Google’s total browser queries was likely negligible. This is due to the increase in Chrome’s share, which appears to have offset the decline in Safari usage.
The report from BofA provides insight into the competitive dynamics between the two tech giants, particularly in the browser market. It underscores the importance of market share movements in understanding the performance metrics of companies like Apple and Google.
In other recent news, Moltiply Group, the operator of Trovaprezzi.it, has filed a lawsuit against Alphabet (NASDAQ:GOOGL)’s Google, seeking damages of approximately $3.34 billion. The lawsuit alleges that Google abused its dominant market position, affecting the growth of Moltiply’s subsidiary, 7Pixel, between 2010 and 2017. This legal action follows a 2017 European Commission fine against Google for similar practices. Meanwhile, Stifel analysts have maintained a Buy rating for Alphabet, despite potential impacts from a Department of Justice antitrust lawsuit. They believe Google’s relationship with Apple remains a mitigating factor, and Google’s Gemini chatbot could be a long-term asset. In another analysis, Gene Munster from Deepwater Management highlighted risks for Google, emphasizing changes in the search industry and competition from AI-powered platforms. Munster noted a potential decline in Google’s traditional search model, which could affect its monetization strategy. Additionally, JMP Securities has reaffirmed a Market Perform rating for Alphabet, focusing on challenges from AI competition and regulatory scrutiny.
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