Google uses a lot more then just search. There are things such as the gmail, documents (which appeals to many small businesses), calendar which is very useful, the e-readers operating systems, the many other web based functions they have there own operating system, and now a very solid Android system.
So even if Google search dies the rest of these functions could be moved into a primary income force by changing just a few things. Lose the add space for Google search just fill in the empty right side of gmail or realise more Google primary nexus devices and charge for your free computer operating system and pull Google off the Nook and release a Google branded E-reader, release a premium package with Google documents ect for business users who are sick of Microsoft Outlook and stuff and boom, Google maintains a strong financial base
If Apple loses the iPhone / iPad novelty they have to design build and distribute a new device before they can regain any lost ground before making a profit. Knowing Apple they would just release the iPhone with a 4.0" screen instead of the 3.5 in screen and tell everyone its the new innovation in mobile technology, and all the Apple fans will buy it like they have bought the same phone over and over with every iPhone release.
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