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APPLE

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Apple : EU antitrust watchdog considering Apple probe - Vestager

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03/14/2019 | 11:52am EDT
FILE PHOTO: Apple company logos are reflected on the glass window outside an Apple store in Shanghai

BERLIN (Reuters) - The European Union's competition watchdog is considering opening a probe of Apple over allegations that it uses its app store to gain an advantage on its own services over rivals', the authority's chief said on Thursday.

Competition Commissioner Margrethe Vestager, told German newspaper Tagesspiegel her watchdog would examine if there were parallels with Google, which in 2017 was fined over 2 billion euros (1.7 billion pounds) for unfairly disadvantaging rivals on its platform.

"We have to examine the role of Apple and Apple's app store," she was quoted as saying. "If we conclude that they have a market-dominating position, then the case would be comparable to our proceedings against Google."

The EU's consideration of a possible probe of Apple comes after music streaming service Spotify filed a complaint against the iPhone maker, saying it was unfairly limiting rivals to its own Apple Music streaming service.

(Reporting by Tassilo Hummel, writing by Thomas Escritt, editing by Joseph Nasr)

Stocks mentioned in the article
ChangeLast1st jan.
APPLE -2.07% 191.05 Delayed Quote.21.12%
SPOTIFY TECHNOLOGY SA -3.47% 139 Delayed Quote.22.47%
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Financials ($)
Sales 2019 255 B
EBIT 2019 62 765 M
Net income 2019 53 048 M
Finance 2019 103 B
Yield 2019 1,61%
P/E ratio 2019 16,76
P/E ratio 2020 14,99
EV / Sales 2019 3,13x
EV / Sales 2020 3,08x
Capitalization 901 B
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Number of Analysts 39
Average target price 184 $
Spread / Average Target -3,9%
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Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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