CNBC's Steve Kovach reports on the latest news from Elon Musk and Apple.
Dan Ives, Wedbush global head of tech research, tells Worldwide Exchange Musk's potential Apple lawsuit could escalate fast, as App Store placement is critical for Grok and X adoption.
Elon Musk wrote on his X social media network late Monday that its parent company, xAI, "will take immediate legal action" against Apple (AAPL) for an alleged "antitrust violation" related to App Store rankings.
Trump nominates EJ Antoni to lead the BLS, emphasizes a commitment to honest and accurate economic data. Elon Musk threatens legal action against Apple, alleging antitrust violations over App Store rankings favoring OpenAI's ChatGPT over xAI's Grok.
Musk threatens 'immediate' legal action against Apple over alleged antitrust violations
Elon Musk said on Monday Apple is engaging in antitrust violations by allegedly making it impossible for any artificial intelligence company other than OpenAI to reach the No. 1 spot in its App Store rankings, calling it an "unequivocal antitrust violation.
Apple Inc (NASDAQ:AAPL, ETR:APC) may have improved its relationship with the Trump administration by committing $100 billion to US manufacturing, but Wedbush analysts have warned that an “invisible AI strategy” threatens to push the tech giant into a “BlackBerry Moment” if it doesn't move fast. “This was a big week for Cook to play nice in the sandbox with the Trump Administration and commit to more US manufacturing investments with the $100 billion announcement,” Wedbush wrote.
Jason Brown (@brownreport) is joining the chorus of market pundits telling investors not to count Apple (AAPL) out. He says "it's a matter of when" the company capitalizes on A.I.
Apple is one of the steadiest growers on Wall Street. Tariff exemptions, the new iPhone, and a rapidly growing services business mean that this stock favors the bulls.
Two things happened to Apple (NASDAQ: AAPL) last week.
Apple is aligning its business for geopolitical rebalancing with an added $100 billion investment over four years to support American re-shoring. The Company has sufficient operating cash flow to fund these investments, but buybacks could come under pressure if increased expenses constrain cash flow growth. Rationally, Apple only has a 10% annual return prospect over the next three-to-five years. Sentiment-related valuation support and financial engineering are the most likely bull-case catalysts.
Apple has announced plans to boost its U.S. investment over the next four years—a move that could shield it from looming chip tariffs of up to 100% on all semiconductors entering the country.