Latest news with #JulienNeals
Business Insider
5 hours ago
- Business
- Business Insider
Apple (AAPL) Must Face DOJ Antitrust Suit as Judge Rejects Dismissal Bid
Apple's (AAPL) legal troubles just deepened. A federal judge has denied the tech giant's attempt to dismiss an antitrust lawsuit brought by the Department of Justice (DOJ) and 16 state attorneys general. The move could reshape how Apple operates its ecosystem. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. The case is now set for a long court battle that could last for years. If the DOJ wins, Apple may be forced to open up its platform, potentially allowing more freedom for third-party apps and services and changing how its users interact with their devices. This ruling also comes amid a broader crackdown on Big Tech, with Alphabet's (GOOGL) Google, Meta (META), and Amazon (AMZN) all facing similar scrutiny. Judge Says Apple Must Face Lawsuit Over Blocking Competition The lawsuit, originally filed in March 2024, accuses Apple of using its control over the iPhone and related services to stifle competition and hurt innovation. The DOJ claims AAPL has built a 'walled garden' that unfairly limits access for rival apps, smartwatches, digital wallets, and messaging platforms. U.S. District Judge Julien Neals said the DOJ presented enough proof to move forward. He pointed to the iPhone maker's tech limits that might block rivals and noted messages showing AAPL may have tried to stay on top by shutting out competition. However, Apple strongly disagrees. The company said its system is built to keep users safe and provide a smooth experience, not to block other companies. Is Apple a Buy, Sell, or Hold? Turning to Wall Street, AAPL stock has a Moderate Buy consensus rating based on 16 Buys, nine Holds, and four Sells assigned in the last three months. At $226.54, the average Apple stock price target implies a 10.42 upside potential.
Time of India
9 hours ago
- Business
- Time of India
Apple must face DOJ monopoly lawsuit, judge rules
A federal judge rejected 's bid to dismiss the Justice Department's antitrust lawsuit on Monday, dealing a significant blow to the maker's legal strategy. U.S. District Judge Julien Neals ruled that government allegations are "sufficient to demonstrate Apple's specific intent to monopolize the smartphone and performance smartphone market." Tired of too many ads? go ad free now The decision clears the path for a potentially years-long legal battle that could reshape how Apple operates its ecosystem of devices and services. DOJ Claims Apple built "walled garden" to stifle competition The March 2024 lawsuit targets Apple's restrictions on third-party app developers and technical barriers for competing devices like smartwatches and digital wallets. Government prosecutors argue these practices destroy competition while inflating prices for consumers and developers. Apple's iPhone sales generated $201 billion in revenue last year, cementing its position as the world's most popular smartphone. The tech giant had argued its limitations on developer access were reasonable business practices, claiming forced technology sharing would harm innovation. Apple spokesperson Marni Goldberg maintained the company believes "this lawsuit is wrong on the facts and the law." Apple's case joins growing big tech antitrust crackdown Judge Neals identified "several allegations of technological barricades that constitute anticompetitive conduct" and noted the "dangerous possibility" that Apple has transformed the iPhone into an illegal monopoly. The case could reach trial by 2027 under the current timeline. This lawsuit represents part of a broader government offensive against Big Tech monopolies. Meta, Amazon, and Google parent Alphabet all face similar antitrust challenges from federal enforcers. Apple confronts additional legal pressures beyond the monopoly case. The company could lose its $20 billion annual payment from Google for default search placement, while a separate federal order already restricts its App Store fee collection practices. The outcome could fundamentally alter Apple's business model and its tightly controlled "walled garden" approach to hardware and software integration.
The Hindu
10 hours ago
- Business
- The Hindu
Apple loses bid to dismiss U.S. smartphone monopoly case
Apple must face the U.S. Department of Justice's lawsuit accusing the iPhone maker of unlawfully dominating the U.S. smartphone market, a judge ruled on Monday. U.S. District Judge Julien Neals in Newark, New Jersey, denied Apple's motion to dismiss the lawsuit accusing the company of using restrictions on third-party app and device developers to keep users from switching to competitors and unlawfully dominate the market. The decision allows the case to go forward in what could be a years-long fight for Apple against enforcers' attempt to lower what they say are barriers to competition with Apple's iPhone. An Apple spokesperson said the company believes the lawsuit is wrong on the facts and the law, and will continue to vigorously fight it in court. A spokesperson for the DOJ declined to comment. Sales of the world's most popular smartphone totalled $201 billion in 2024. Apple introduced a new budget model iPhone in February with enhanced features priced at $170 more than its predecessor. The lawsuit filed in March 2024 focuses on Apple's restrictions and fees on app developers, and technical roadblocks to third-party devices and services, such as smart watches, digital wallets and messaging services, that would compete with its own. DOJ, along with several states and Washington, D.C., says the practices destroy competition and Apple should be blocked from continuing them. Apple had argued that its limitations on third-party developers' access to its technology were reasonable, and that forcing it to share technology with competitors would chill innovation. The case is one of a series of U.S. antitrust cases against Big Tech companies brought during the Biden and first Trump administrations. Facebook parent Meta Platforms and are facing lawsuits by antitrust enforcers alleging they illegally maintain monopolies, and Alphabet's is facing two such lawsuits.
Indian Express
11 hours ago
- Business
- Indian Express
Apple loses bid to dismiss US smartphone monopoly case
Apple must face the U.S. Department of Justice's lawsuit accusing the iPhone maker of unlawfully dominating the U.S. smartphone market, a judge ruled on Monday. U.S. District Judge Julien Neals in Newark, New Jersey, denied Apple's motion to dismiss the lawsuit accusing the company of using restrictions on third-party app and device developers to keep users from switching to competitors and unlawfully dominate the market. The decision allows the case to go forward in what could be a years-long fight for Apple against enforcers' attempt to lower what they say are barriers to competition with Apple's iPhone. An Apple spokesperson said the company believes the lawsuit is wrong on the facts and the law, and will continue to vigorously fight it in court. A spokesperson for the DOJ declined to comment. Sales of the world's most popular smartphone totaled $201 billion in 2024. Apple introduced a new budget model iPhone in February with enhanced features priced at $170 more than its predecessor. The lawsuit filed in March 2024 focuses on Apple's restrictions and fees on app developers, and technical roadblocks to third-party devices and services — such as smart watches, digital wallets and messaging services — that would compete with its own. DOJ, along with several states and Washington, D.C., says the practices destroy competition and Apple should be blocked from continuing them. Apple had argued that its limitations on third-party developers' access to its technology were reasonable, and that forcing it to share technology with competitors would chill innovation. The case is one of a series of U.S. antitrust cases against Big Tech companies brought during the Biden and first Trump administrations. Facebook parent Meta Platforms and are facing lawsuits by antitrust enforcers alleging they illegally maintain monopolies, and Alphabet's is facing two such lawsuits.
Malay Mail
13 hours ago
- Business
- Malay Mail
US judge rules Apple must face antitrust trial over monopoly claims
WASHINGTON, July 1 — A federal judge yesterday denied Apple's motion to dismiss a major antitrust lawsuit brought by the US government, allowing the case challenging the tech giant's alleged smartphone monopoly to move forward. District Judge Julien Neals of New Jersey ruled that the government had adequately demonstrated that Apple maintains monopoly power in smartphone markets and engages in anticompetitive conduct to maintain that dominance. The lawsuit, filed in March 2024 by the US Department of Justice's antitrust division and 20 states, accuses Apple of illegally monopolizing smartphone markets through restrictions on app developers and device makers that limit competition and innovation. According to the complaint, Apple controls 65 per cent of the broader US smartphone market and 70 per cent of the 'performance smartphone' market—a premium segment that excludes lower-end devices. Judge Neals found these market share figures, combined with significant barriers to entry, sufficient to indicate Apple's monopoly power and warrant taking the case to trial. The judge has yet to set a trial date, but the case is expected to take years. 'We believe this lawsuit is wrong on the facts and the law, and we will continue to vigorously fight it in court,' an Apple spokesperson said in an email to AFP. The government alleges Apple maintains this dominance by restricting five key technologies: 'super apps,' cloud-streaming apps, text messaging, smartwatches, and digital wallets. The ruling highlighted internal Apple communications that allegedly show intent to maintain monopoly power, including statements from executives about preventing users from switching to competing devices. Apple faces potential remedies ranging from changes to its business practices to orders requiring it to divest parts of its device and software empire if the government ultimately prevails at trial. The case is among several major antitrust challenges facing Apple, which has also been accused for taking a significant cut of proceeds from outside apps on its devices. The lawsuit is one of five major cases launched by the first Trump administration and Joe Biden's administration that also targeted Meta and Amazon. In the two cases against Google, judges found the search engine giant guilty of running an illegal monopoly, and the company faces potential forced divestments of some of its businesses.— AFP
