Apple’s stock price rose
On Monday, the price of Apple’s stock rose significantly, 2%, beating the 1.1% increase in the S&P 500 index. The tech juggernaut’s audacious position on a forthcoming regulatory hearing has led to this.
Apple’s Protection Against Monopolistic Behavior
According to people with knowledge of the situation, Apple wants to demonstrate to the European Union’s antitrust agency that it doesn’t participate in any anticompetitive behavior. The European Commission has accused the tech giant of preventing competing software developers’ wallets from accessing its well-liked range of mobile devices.
Effects of a Guilty Finding
Apple may be penalized up to 10% of its global turnover, which was $394 billion as of its most recent annual sales figure, if the European Commission deems it guilty.
Apple’s Unwavering Position
Apple is steadfast in its belief that it is conducting business responsibly, in contrast to Microsoft, which is adopting accommodative wording for its proposed acquisition of Activision Blizzard. The Apple Pay service, which the corporation claimed last year is merely one of several payment methods accessible to European consumers, is the subject of the debate.