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Technology Stocks : Apple Tankwatch
AAPL 224.31+0.1%Jul 19 4:00 PM EDT

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From: zax3/21/2024 10:23:29 AM
   of 32570
Apple will be sued by the Biden administration in a landmark antitrust lawsuit, sources say

Washington CNN — The US Justice Department will file a blockbuster antitrust lawsuit against Apple on Thursday, according to three people familiar with the matter. It’s the latest – but largest – in a recent string of Big Tech companies to face monopoly accusations from the US government, which is cracking down on the massive industry whose power has gone largely unchecked over the past several decades.

The long-anticipated lawsuit comes after years of allegations by critics that Apple has harmed competition with restrictive app store terms, high fees and its “walled-garden” approach to its hardware and software: Apple famously makes its tech easy to use, but it achieves that by tightly controlling - and in some cases, restricting - how third-party companies can interact with the tech behemoth’s products and services. In some cases, Apple may give its own products better access and features than its competitors.

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