Securities firm Bernstein sent a note to clients today, stating that Google will end up paying approximately $3 billion to Apple this year to remain the default search engine on the Apple iPhone and Apple iPad. That is triple the amount that Google paid Apple three years ago for the same licensing rights. The revenue from Google is counted by Apple towards its rapidly growing services business. According to Apple, if its service business was considered a separate company, it would qualify for the Fortune 500.
Bernstein analyst A.M. Sacconaghi Jr. said in his firm’s missive to investors that …