Apple Says 'Dangerous' DOJ Lawsuit 'Threatens Who We Are,' Vows To Fight Against It
Portfolio Pulse from Rounak Jain
Apple Inc. has responded to a U.S. Department of Justice (DOJ) lawsuit, claiming it threatens the company's core principles and innovation capabilities. The lawsuit alleges Apple violated antitrust laws by restricting competitors' access to iPhone hardware and software, marking the third antitrust case against Apple in 14 years. Apple's stock dropped 2.89% to $173.51 following the news.
March 21, 2024 | 2:51 pm
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Apple Inc. faces a DOJ lawsuit alleging antitrust violations, which the company claims threatens its innovation and core principles. The stock dropped 2.89% to $173.51.
The DOJ lawsuit directly targets Apple's business practices, alleging antitrust violations. Such legal challenges can lead to uncertainty among investors, negatively impacting stock prices in the short term. The immediate 2.89% drop in Apple's stock price reflects market concerns over the potential consequences of the lawsuit.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100