Apple (AAPL) faces an antitrust lawsuit from the Department of Justice alleging that the company engages in monopolistic practices in the smartphone and digital app markets. DA Davidson Managing Director Gil Luria joins Yahoo Finance Live to discuss the implications of this lawsuit.
Luria states that this lawsuit "is a big deal," noting that while Apple has been under regulatory scrutiny before regarding the App Store, the difference this time is that it "goes to the heart of Apple" — its iPhone products. According to Luria, the DOJ is accusing Apple of "a series of practices" designed to ensure that consumers continue to buy iPhones and not switch to Android devices. However, he says that if Apple were to mitigate some of the concerns raised, it would inevitably weaken the company's position.
Luria suggests that in the short term, investors have "little reason to think" the lawsuit will impact iPhone sales. However, in the long run, it could "loosen their hold on" the smartphone market in the US, impacting prices and promoting Android devices, which could pose "a big headwind" to the iPhone market.
#youtube #Apple #stockmarket #tech

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