#apple #antitrust #attorneygeneral #iphones #consumers

Apple (AAPL) faces mounting regulatory pressures from both sides of the Atlantic: Department of Justice (DOJ) officials filed an antitrust lawsuit while European Union (EU) regulators probe Apple and other Big Tech companies for violating its Digital Markets Act. Sixteen US attorneys general are joining the DOJ suit alleging Apple's practice of creating a monopoly in the smartphone and digital app store markets. New Jersey Attorney General Matt Platkin — who is among the state attorneys general pushing for this case — breaks down the consumer harm Apple's anticompetitive methods have done: "What we lay out is a pattern that Apple has engaged in of using its market share to restrict and exclude business practices in a way that stifles innovation and makes it harder for consumers to leave the iPhone platform. And as a result of that, it has driven up significantly its own profits and the cost of the products to consumers, so that now in 2024, people are paying over $1,500 for an iPhone, that if you adjust the 2007 price of an iPhone for inflation, it would only be $450." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.

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