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The US tech company has been fined by the European Union regulators with a 1.84 billion Euro fine for unfair competition in the music streaming market. Apple is accused of thwarting the fair market by using App store restrictions.
The stock price of the company reacted by starting the day's trading with a gap down and eventually reaching the $174.00 price level.
In the meantime, Apple has commented that the company would appeal the EU decision. A potential appeal is expected to take years.
Mon, 04 Mar 2024 16:03:49 GMT
Source: Dukascopy Bank SA
The US tech company has been fined by the European Union regulators with a 1.84 billion Euro fine for unfair competition in the music streaming market. Apple is accused of thwarting the fair market by using App store restrictions.
The stock price of the company reacted by starting the day's trading with a gap down and eventually reaching the $174.00 price level.
In the meantime, Apple has commented that the company would appeal the EU decision. A potential appeal is expected to take years.