The UK Competition and Market Authority claims Apple (AAPL) and Alphabet (GOOGL) hold dominant positions in mobile. The body points to the companies' operating systems, app stores and browsers as examples.
Apple stock is down year to date ahead of its fiscal first-quarter earnings report. The company is facing business and regulatory challenges.
Apple Inc and Alphabet Inc's Google have come under investigation by the UK's competition watchdog over their mobile platforms. Each firm's mobile operating systems, app stores and browsers would be probed to see if they required tailor-made regulation, the Competition and Markets Authority said.
Apple (AAPL) gets a price target cut as the company faces regulatory issues overseas. Meanwhile, American Express (AXP) hits all-time highs ahead of 4Q earnings.
CMA examining impact of tech firms' operating systems, app stores and browsers on consumers and businesses
Overseas, big-cap tech companies Apple (AAPL) and Alphabet (GOOGL) face regulatory hurdles for their respective mobile ecosystems. Kevin Green breaks down the significance of the investigation, but says the process may take some time to play out.
[00:00:04] Douglas McIntyre: So some trouble for apple and Apple stock has not done well recently.
Currently the second largest company in the world in terms of market capitalization, Apple (NASDAQ:AAPL) remains a core portfolio holding for most active and passive investors alike.
Apple Inc has come under pressure ahead of its Thursday, 30 January results, but this may be “overdone”, according to Wedbush analysts. Though Chinese demand for iPhones in particular looks weak, analysts noted a manageable decline in the region and higher sales elsewhere should see it hit forecasts.
Apple and Google, the tech giants behind massive mobile ecosystems, are facing dual antitrust probes in the U.K. The investigations, launched by the U.K. Competition and Markets Authority (CMA), aim to determine whether Apple and Google hold “strategic market status” in their respective mobile ecosystems, including operating systems, app stores and smartphone-based browsers.
iPhone growth in the U.S. and the rest of the world offsets softer sales in China, Wedbush analyst Daniel Ives says.
Meta Platforms' CEO Mark Zuckerberg isn't a big fan of Apple (AAPL 0.53%). In a recent interview with podcast host Joe Rogan, he was critical of the company and its lack of innovation over the years.