Many of these smart-money backers, such as Haruki Toyama, of the Madison Investors fund, believe fears about the competitive threat to Google's search business from AI rivals are overblown: "The impact is likely to be relatively small as the kind of searches that make logical sense to be generative AI queries are not the kind being monetised well anyway." Even if the deal with Apple has to end, it is very possible most users would choose to download Google anyway. The silver lining for Alphabet in this case is that it wouldn't be paying Apple billions of dollars every year for the privilege. "We believe this particular [regulatory] remedy would be a net-positive for Alphabet's financials," said James Ford, an equity analyst at wealth manager Charles Stanley. Elsewhere, Alphabet has impressive products and services that should keep its revenues and profits growing strongly in the years ahead.