$AAPL EU probe very worrying for APPLE, Lawyers very Busy.
The EU will launch a formal antitrust investigation into Apple in the next few weeks after Spotify accused the iPhone maker of "tilting the playing field to disadvantage competitors," FT reports.
The complaint centers on Apple's policy of charging digital content providers a 30% fee for using its payment system for subscriptions sold in its App Store.The policy applies to Spotify and other music subscription services but not apps, such as Uber.
Historically the EU have been more than willing to punish big tech, Alphabet(GOOGL) has been hit with multiple fines by the Eu in recent years. What is worrying for AAPL investors is that a negative judgement could really rattle Apple's services sector revenue stream. Having just settled with Qualcomm for approx $5.5 billion, maybe the door has opened to many others to take on the once untouchable AAPL.
The complaint centers on Apple's policy of charging digital content providers a 30% fee for using its payment system for subscriptions sold in its App Store.The policy applies to Spotify and other music subscription services but not apps, such as Uber.
Historically the EU have been more than willing to punish big tech, Alphabet(GOOGL) has been hit with multiple fines by the Eu in recent years. What is worrying for AAPL investors is that a negative judgement could really rattle Apple's services sector revenue stream. Having just settled with Qualcomm for approx $5.5 billion, maybe the door has opened to many others to take on the once untouchable AAPL.
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