Eddy Cue, Apple's senior vice president, revealed in an antitrust case that the company is 'actively looking' to integrate AI-powered search options into its Safari browser, which raises questions about Google's status as the default search engine.

This announcement led to a significant drop in Alphabet's shares, which fell by 7.3% on May 7, 2025, resulting in a staggering loss of approximately $150 billion in market value.

InvestingPro data indicates that Alphabet maintains a strong overall financial score, with a notable 13% revenue growth over the past year.

Despite this stock decline, Google's fundamentals remain strong, with a reported revenue of $90.2 billion last quarter, reflecting a 12% year-over-year increase.

In the midst of these developments, Wynn Resorts received an upgrade from Bank of America, moving from neutral to buy, despite missing its first-quarter earnings estimates.

Investors are closely monitoring the situation, leading to fluctuations in Alphabet's stock performance as they assess the implications of Apple's potential shift.

The overall market outlook remains uncertain due to unpredictable monetary policies and ongoing trade tensions, which are affecting investor sentiment as the first quarter of 2025 earnings season approaches.

The news prompted a broader dip in the tech sector, with the Nasdaq Composite Index down 1.2% by mid-afternoon on the same day.

The announcement came during a period of mixed performance in tech stocks, following the Federal Reserve's decision to keep interest rates steady amid economic uncertainties.

In a related development, the U.S. administration is reportedly preparing to withdraw global restrictions on chip exports, which may ease tensions between the U.S. and China.

Meanwhile, spot Bitcoin ETFs saw a net inflow of $45 million on the same day, indicating sustained institutional interest in cryptocurrencies despite the volatility in the stock market.

The long-term implications for the cryptocurrency market will depend on how investors navigate the evolving relationship between tech equities and digital assets.