Squawk on the Street Alphabet and Apple Shares Surge on Google Antitrust Case Ruling 9/3/25
Sep 3, 2025
The podcast dives into the stock market's enthusiastic response to a favorable ruling in Google's antitrust case, with Alphabet and Apple shares surging. Discussions include the financial strategies of tech giants, implications of Federal Reserve independence, and key insights from retail performances, especially Macy's. The rise in gold prices and dynamics in the cybersecurity sector also take center stage, alongside assessments of major players like Zscaler and CrowdStrike, revealing complex challenges and opportunities in the market.
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Judge Limits Remedies Without Breakup
- The judge ruled Google need not divest Chrome or Android but must share data and avoid exclusives.
- That decision reshapes competition by allowing payments to Apple and preserving Google's scale.
AI Entrants Changed Case Dynamics
- Jim Cramer notes the case was overtaken by rapid AI entrants like Anthropic and OpenAI.
- He argues those developments made a breakup of Alphabet less sensible and influenced the judge.
Apple Gains Leverage From Default Deals
- The judge allowed Google to keep paying Apple, which Cramer says could be worth tens of billions.
- That gives Apple leverage to pick default AI winners and monetize device distribution.