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Another blow falls on Apple, which after the various new European regulations that impose changes in its business model, has to deal with a lawsuit brought by the US Department of Justice.
The Cupertino company this time is accused of having a monopoly on the phone market that harms consumers, developers and rival companies with its “astronomical valuation”.
And Apple’s ecosystem – from Apple Watches to the Apple Pay fast payment service – would support this monopoly, according to the indictment.
Federal antitrust regulators and 16 states say Apple’s anticompetitive practices extend well beyond the iPhone and Apple Watch to FaceTime, its browser, advertising and news offerings. “Every step taken by Apple builds and reinforces its monopoly in the smartphone market,” is the accusation in the documents delivered to the New Jersey district court.
News that immediately hit Apple’s stock, which lost 4.1% in New York at the close of Wall Street: this is the biggest drop since August, after the legal action initiated by the Department of Justice for violation of antitrust laws.