💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Exclusive: U.S. Justice Dept considering Apple probe - sources

Published 06/03/2019, 04:00 PM
© Reuters. The logos of Amazon Apple Facebook and Google
GOOGL
-
AAPL
-
AMZN
-
META
-
GOOG
-
SPOT
-

WASHINGTON (Reuters) - The U.S. Justice Department has jurisdiction for a potential probe of Apple Inc (NASDAQ:AAPL) as part of a broader review of whether technology giants are using their size to act in an anti-competitive manner, two sources told Reuters.

The Justice Department's Antitrust Division and the Federal Trade Commission (FTC) met in recent weeks and agreed to give the Justice Department the jurisdiction to undertake potential antitrust probes of Apple and Google, owned by Alphabet (NASDAQ:GOOGL) Inc, the sources said.

The FTC was given jurisdiction to look at Amazon.com Inc (NASDAQ:AMZN) and Facebook Inc (NASDAQ:FB), the sources said.

The sources did not say what the government's potential concern might be regarding Apple.

Streaming music leader Spotify (NYSE:SPOT) Technology SA and others have criticized the iPhone maker’s practices, describing the company as anti-competitive in a complaint to the European Union’s antitrust regulators. Central to Spotify’s complaint is a 30% fee Apple charges content-based service providers to use Apple’s in-app purchase system.

Apple did not immediately respond to a request for comment.

© Reuters. The logos of Amazon Apple Facebook and Google

The company has defended its practices in the past, saying it only collects a commission if a good or service is sold through an app. "Our users trust Apple - and that trust is critical to how we operate a fair, competitive store for developer app distribution," it has said previously.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.