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Apple’s stock price fell more than 2 percent

Apple's stock price fell more than 2 percent

Apple’s stock price fell more than 2 percent

Apple’s stock price fell more than 2 percent, US A federal judge ordered, requires Apple company must allow the application ( App ) developers can guide consumers to external payment, pay for purchases in the App, Apple lucrative business model suffered a major defeat.

Apple's stock price fell more than 2 percent

In an antitrust lawsuit between Apple and “Fortnite” (Fortnite) game developer Epic Games, U.S. District Judge Yvonne Gonzalez Rogers granted Epic the injunction sought, arguing that Apple cannot prohibit developers from using buttons to guide their apps. Consumers use external payment options, resulting in consumers can only use Apple’s in-app payment system, so that developers must be paid 30% commission by Apple.

Yvonne Gonzalez Rogers also pointed out that Apple cannot prohibit App developers from using the consumer’s contact information during registration to communicate with the consumer. She concluded that Apple’s option to prevent consumers from getting cheaper prices is engaging in anti-competitive behavior that harms consumers.

This ruling will impact the profitability of Apple’s App Store. It is also a warning to the world’s most valuable listed company and may trigger many follow-up lawsuits. Apple shares fell 2.2% in intraday trading on the 11th.

However, Yvonne Gonzalez Rogers also demanded that Epic Games must pay at least US$4 million to Apple for breach of contract. The content of the verdict did not go further as Epic Games sought. Yvonne Gonzalez Rogers said that based on the judgment record, the court could not conclude that Apple is a monopolist under the definition of federal or state antitrust laws.

Apple is expected to file an appeal, this lawsuit may last at least a year, and may eventually reach the US Supreme Court.

Apple’s stock price fell more than 2 percent Apple’s stock price fell more than 2 percent Apple’s stock price fell more than 2 percent Apple’s stock price fell more than 2 percent

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  1. Pingback: Apple iPhone 13 physical Order Scheduled in October - Down Push

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