'Apple, Google Set To Be Hit By First Probes Under EU Digital Law; Meta Also Expected To Face Scrutiny In EU's Big Tech Clampdown; Digital Markets Act Investigations Could Pave Way For Fines' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
Apple and Google are expected to be the first companies investigated under the EU's new Digital Markets Act, with Meta also anticipated to face scrutiny. This clampdown on Big Tech could lead to significant fines for the companies involved.
March 21, 2024 | 3:39 pm
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Apple is set to be investigated under the EU's Digital Markets Act, potentially facing significant fines.
Being under investigation by the EU could lead to regulatory challenges and potential fines for Apple, likely affecting investor sentiment and possibly the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Google is expected to be among the first to be probed under the EU's Digital Markets Act, which could result in significant fines.
Google's anticipated investigation under the new EU law suggests potential regulatory hurdles and fines, which could negatively impact investor sentiment and the stock's short-term performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Google's parent company, Alphabet Inc., is also expected to face scrutiny under the EU's Digital Markets Act, potentially leading to fines.
As Google's parent company, Alphabet Inc. faces similar regulatory challenges and potential fines under the EU's new law, which could dampen investor sentiment and affect the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Meta is also expected to come under the EU's scrutiny with the Digital Markets Act, potentially facing significant fines.
Meta's anticipated investigation under the EU's Digital Markets Act suggests potential for regulatory challenges and fines, likely affecting the company's stock price negatively in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85