Apple fired back at the US lawsuit by calling it “wrong on the facts and the law.
The article discusses Apple’s recent market struggles and legal challenges, particularly its $113 billion loss in market value due to regulatory pressures. In the US, the Justice Department and 16 attorneys general are suing Apple for antitrust violations, while in Europe, the company faces scrutiny under the Digital Markets Act. This has caused shares to decline by 4.1% and raised concerns about its market dominance. Apple refutes the US lawsuit’s claims and emphasizes its commitment to innovation and user experience. The lawsuit alleges Apple’s control over app distribution on iPhones stifles competition and innovation. The Digital Markets Act in Europe imposes significant penalties for non-compliance, and regulators are investigating Apple’s practices. Additionally, Apple recently faced a large fine in the EU for anticompetitive behavior regarding music streaming apps. Overall, the article highlights the increasing regulatory challenges faced by Apple and the potential impact on its market position and business operations.
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