Apple App Store Practices Under Scrutiny In Spain For Anti-Competitive Behavior
Portfolio Pulse from Lekha Gupta
Apple Inc. (AAPL) is under investigation by Spain's National Commission for Markets and Competition for potential anti-competitive practices related to its App Store. The investigation could last up to 24 months and may result in significant fines. AAPL shares are down 2.96%. Investors can also gain exposure through ETFs like AAPX and FTEC.
July 24, 2024 | 3:42 pm
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NEGATIVE IMPACT
Apple is under investigation by Spain's CNMC for potential anti-competitive practices related to its App Store. The investigation could last up to 24 months and may result in fines up to 10% of global turnover.
The investigation by Spain's CNMC could lead to significant fines and regulatory scrutiny, negatively impacting Apple's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Investors can gain exposure to Apple through the ETF Opportunities Trust T-Rex 2X Long Apple Daily Target ETF (AAPX).
As AAPX is directly tied to Apple's performance, the negative news surrounding Apple's investigation could also impact AAPX negatively.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Investors can gain exposure to Apple through the Fidelity MSCI Information Technology Index ETF (FTEC).
FTEC includes Apple as a significant holding. Negative news about Apple could have a minor negative impact on FTEC.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 30