What's Going On With Apple Stock Thursday
Portfolio Pulse from Anusuya Lahiri
Apple Inc (AAPL) shares are trading higher as the company prepares for a showdown with the European Union antitrust regulators. The company has been charged over its treatment of music streaming rivals like Spotify Technology SA (SPOT). Apple insists that the EU wrongly accused it of illegal curbs on the likes of Spotify. The antitrust probes coincide with new EU rules that will rein in how U.S. tech firms operate in the region.
June 29, 2023 | 4:53 pm
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POSITIVE IMPACT
Apple's stock is trading higher despite the upcoming showdown with EU antitrust regulators. The company insists it has addressed any possible competition concerns.
Apple's stock is trading higher, indicating that investors are not overly concerned about the upcoming showdown with EU regulators. The company's insistence that it has addressed any possible competition concerns may have reassured investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Spotify has been one of Apple’s fiercest critics, pressing the EU’s antitrust unit into action over Apple taking an unfair cut of its subscription fees.
Spotify has been a vocal critic of Apple's practices, which could potentially lead to changes that benefit Spotify. However, the outcome of the antitrust showdown is uncertain, making the short-term impact on Spotify's stock neutral.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60