The United States takes a stand against Apple's illegal monopolistic practices with the iPhone (full details here)
(By Taylor) The United States continues its crusade against tech giants. Utilizing at times the Department of Justice and at others, the Federal Communications Commission (FTC), the Joe Biden administration has launched an offensive against what it deems illegal monopolistic practices by companies such as Alphabet (Google), Amazon, and Microsoft. The latest chapter is a significant lawsuit announced this Thursday by Attorney General Merrick Garland against Apple for maintaining a closed ecosystem around its flagship product, the iPhone. Prosecutors have likened the lawsuit to other major antitrust cases in history, such as those filed against AT&T and Microsoft. Apple's stocks fell by 4.09% on Thursday. For a company valued at nearly $2.7 trillion, that's a bite of over $100 billion.
(By Taylor) The United States continues its crusade against tech giants. Utilizing at times the Department of Justice and at others, the Federal Communications Commission (FTC), the Joe Biden administration has launched an offensive against what it deems illegal monopolistic practices by companies such as Alphabet (Google), Amazon, and Microsoft. The latest chapter is a significant lawsuit announced this Thursday by Attorney General Merrick Garland against Apple for maintaining a closed ecosystem around its flagship product, the iPhone. Prosecutors have likened the lawsuit to other major antitrust cases in history, such as those filed against AT&T and Microsoft. Apple's stocks fell by 4.09% on Thursday. For a company valued at nearly $2.7 trillion, that's a bite of over $100 billion.