Justice Department files antitrust suit against Apple

Yahoo Finance03-21

The Justice Department filed a federal antitrust lawsuit against Apple (AAPL), according to media reports, alleging that the tech giant illegally maintains its dominance over its iPhone ecosystem by ...

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If successful, it would hinder our ability to create the kind of technology people expect from Apple.\". A victory for the US in this case \"would also set a dangerous precedent, empowering government to take a heavy hand in designing people’s technology,\" Apple added in its statement.Apple's stock was down roughly 3% following news of the lawsuit, which the Justice Department filed with 16 state attorneys general.The filing sets up yet another confrontation between the US government and a Silicon Valley icon as the Biden administration tries to rein in Big Tech's power.The Department of Justic","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","BK4170":"电脑硬件、储存设备及电脑周边","BK4548":"巴美列捷福持仓","LU0433182093.SGD":"First Eagle Amundi International AS-C SGD","GOOG":"谷歌","BK4201":"综合性石油与天然气企业","GOOGL":"谷歌A","LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4528":"SaaS概念","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0068578508.USD":"First Eagle Amundi International Cl AU-C USD","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","BK4554":"元宇宙及AR概念","TWTR":"Twitter","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4553":"喜马拉雅资本持仓","BK4567":"ESG概念","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0080751232.USD":"富达环球多元动力基金A","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","AMZN":"亚马逊","BK4566":"资本集团","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0171293334.USD":"贝莱德英国基金A2","BK4220":"综合零售","META":"Meta Platforms","BK4559":"巴菲特持仓","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","EC":"哥伦比亚国家石油","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","BK4550":"红杉资本持仓","AAPL":"苹果","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","MSFT":"微软","BK4551":"寇图资本持仓","BK4561":"索罗斯持仓","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4573":"虚拟现实","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","BK4581":"高盛持仓","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H"},"translate_title":"司法部对苹果提起反垄断诉讼","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AAPL":1,"MSFT":1,"META":1,"EC":1,"AMZN":0.9,"GOOGL":0.9,"GOOG":0.9,"TWTR":0.69},"content_text":"The Justice Department filed a federal antitrust lawsuit against Apple (AAPL), according to media reports, alleging that the tech giant illegally maintains its dominance over its iPhone ecosystem by boxing out competing services from other companies.\nApple said it would fight the lawsuit, which it said \"threatens who we are and the principles that set Apple products apart in fiercely competitive markets. If successful, it would hinder our ability to create the kind of technology people expect from Apple.\" \nA victory for the US in this case \"would also set a dangerous precedent, empowering government to take a heavy hand in designing people’s technology,\" Apple added in its statement.\nApple's stock was down roughly 3% following news of the lawsuit, which the Justice Department filed with 16 state attorneys general.\nThe filing sets up yet another confrontation between the US government and a Silicon Valley icon as the Biden administration tries to rein in Big Tech's power. \nThe Department of Justice is suing Google (GOOG, GOOGL) over antitrust allegations, while the Federal Trade Commission is suing Amazon (AMZN) and Facebook (META) alleging they also violate antitrust laws.\n\n\n\n  Apple CEO Tim Cook. REUTERS/Loren Elliott\n \n\n  REUTERS / Reuters\n \n\nThe new DOJ lawsuit filed Thursday poses a major new threat to Apple's various revenue streams.\nApple generates the bulk of its cash through the sale of its wildly popular iPhone, which accounted for $200.6 billion of the company's $383.3 billion in total revenue in 2023. But Apple's services and hardware that tie into the iPhone are also incredibly lucrative.\nThe company's wearables, home, and accessories business, which includes its Apple Watch and AirPods sales, generated $39.8 billion last year, while its growing services business, which includes subscriptions for things like Apple Music+ and App Store sales, brought in $85.2 billion.\n\nThe DOJ's suit comes just weeks after the European Commission (EC) fined Apple $2 billion for allegedly breaking competition laws in the bloc. The EC alleged the company illegally wielded its dominance to the detriment of its rivals in the market for the distribution of music streaming apps.\nThe Justice Department suit is just the latest headache for Apple, which is off to a rough start to 2024. \nShares of Apple are down 7% year-to-date, as the company struggles with slowing iPhone sales in China, its third-largest market. Apple also lost its title of the world's most valuable company to rival Microsoft (MSFT).\nAlexis Keenan is a legal reporter for Yahoo Finance. Follow Alexis on Twitter @alexiskweed.\nGot a tip? Email Daniel Howley at dhowley@yahoofinance.com. Follow him on Twitter at @DanielHowley.\nClick here for the latest technology business news, reviews, and useful articles on tech and gadgets\nRead the latest financial and business news from Yahoo Finance\nDownload the Yahoo Finance app for Apple or Android\nFollow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube\nSign up for Yahoo Finance's Tech newsletter","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2421478440"}