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Apple hit with nearly $2B antitrust EU fine

Jeff Sica, founder of Circled Squared Investments, discusses whether Microsoft can replace Apple as Varney & Co’s largest company by market capitalization. European regulators on Monday slapped Apple with a nearly $2 billion antitrust fine for “abusing” App Store rules related to music streaming providers. The European Commission said it found that Apple prohibited music […]

EU fines Apple €1.8bn over App Store restrictions on music streaming | Technology sector

Apple has been fined €1.8bn (£1.5bn) by the EU following an investigation into restrictions its App Store placed on music streaming providers such as Spotify. The European Commission, the EU’s executive arm, imposed the penalty after finding that the iPhone maker had breached competition law by imposing restrictions on app developers. The investigation was launched […]

Proposed class action lawsuit alleges Apple monopolizing cloud storage for its devices

Apple faces a proposal class action lawsuit The company claims it has an illegal monopoly over its customers’ digital storage. The lawsuit, filed Friday, alleges the “surgical” restrictions effectively prevent customers from using services outside of the iCloud storage system. iCloud is the only service that can host certain data from your company’s phones, tablets, […]

Apple ditches electric car project, shifts focus to generative AI

Apple is reportedly abandoning its decade-long efforts to build electric cars and ramping up its efforts on generative AI projects. Apple announced the plan internally on Tuesday, people familiar with the matter said. bloombergwhich rattled the roughly 2,000 staff working on the self-driving car, which was originally scheduled to be released in 2026. The decision […]

Apple scrapping electric car project

SATORI Fund Senior Portfolio Manager Dan Niles discusses Apple’s outlook for 2024 on The Claman Countdown. Apple is reportedly abandoning efforts to build electric cars after spending nearly a decade and billions of dollars on the project. To quote a person close to me, reported by bloomberg Apple internally announced on Tuesday that it was […]