Meta And Microsoft Criticize Apple For Allegedly Evading Legal Requirements Post-Epic Games Ruling
Portfolio Pulse from Benzinga Neuro
Apple Inc is criticized by Meta Platforms Inc and Microsoft Corp for its compliance plan in the legal battle with Epic Games. The plan, which involves a 12% to 27% fee on external purchases, is seen as inadequate and circumventing the spirit of a 2021 court order aimed at allowing app developers to use external payment options. This development follows Apple's recent actions in the EU, including changes to its App Store and the termination of Epic Games' developer account, which Epic claims violates the Digital Markets Act.
March 21, 2024 | 4:56 am
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NEUTRAL IMPACT
Meta Platforms Inc criticizes Apple's compliance plan in the Epic Games lawsuit, indicating potential concerns over app development and payment systems.
While Meta's criticism of Apple highlights concerns in the tech industry, the direct impact on Meta's stock price is uncertain, as the outcome depends on broader industry and regulatory responses.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Microsoft Corp joins Meta in criticizing Apple's compliance with a court order in the Epic Games lawsuit, reflecting concerns over competitive practices and developer relations.
Microsoft's criticism points to industry-wide concerns over Apple's practices. However, the direct impact on Microsoft's stock is neutral in the short term, as the situation's outcome remains to be seen.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Apple Inc's compliance plan in the Epic Games lawsuit is criticized for inadequately allowing external payment options, potentially affecting its future dealings with developers and regulators.
Apple's criticized compliance plan could lead to negative perceptions among developers and regulators, potentially impacting its business operations and stock price negatively in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100