This past week was a big win for the Google bears, but we’re sticking with our bullish bet on Alphabet stock. The company’s shares have dropped 5.9% this week after Apple‘s senior vice president of services,

Shares of Alphabet ( GOOGL -1.02%) ( GOOG -0.92%) sank after Apple executive Eddy Cue said that searches on Safari declined for the first time ever in April. Cue attributed the decline to people using more artificial intelligence (AI) chatbots and predicted that AI search engines will eventually replace traditional search.

Shares of Google parent Alphabet plunged Wednesday after an Apple executive reportedly said the iPhone maker is looking to add AI-powered search options to its Safari browser, and suggested they could eventually replace search engines like Google's.