Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL


News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Google, Facebook, Amazon and Apple offer defence in congressional antitrust probe

share with twitter share with LinkedIn share with facebook
share via e-mail
11/19/2019 | 02:26pm EST
FILE PHOTO: The logos of Amazon Apple Facebook and Google

Four top U.S. tech companies, Alphabet Google, Facebook, Amazon.com and Apple, responded to questions from a congressional committee by defending their practices and declining to answer some questions.

The House of Representatives Judiciary Committee, which released the answers Tuesday, had sent the queries as part of its antitrust probe of the four giants, which face a long list of other antitrust probes.

The companies, long a symbol of the dynamism of the U.S. economy, have seen their reputations tarnished by privacy lapses and allegations they abused their perch on top of the market to hurt small and nascent rivals.

Facebook and Apple declined comment for this story while Amazon and Google had no immediate comment.

In its responses, Google, which owns YouTube, denied favouring its own services over those of competitors in search, video and internet browsers.

It said "the vast majority" of clicks following a Google search go to non-Google websites, that results from its YouTube offering are not given greater weight than rivals', and that its word processing and analytics tools are designed to work well with all browsers, not just its Chrome.

Google also said its "vertical integration" of advertising tools benefits advertisers in part through better consumer targeting, but that the ability of rivals to compete is not "meaningfully affected" because it takes steps to level the playing field.

Despite its huge collection of data on search queries and clicks, Google said it could not provide much of the data sought by the committee. For example, asked whether it could share how many searches display location information about a business, Google said, "We do not have a standard definition for what searches are considered 'location searches' and thus, cannot provide the specific information requested."

For its part, Facebook acknowledged cutting off certain third-party apps from its developer platform for replicating core functionalities, such as Twitter's now-shuttered Vine, which it said replicated a Facebook product.

But it provided limited answers to other questions on the company's handling of prospective competitors. For example, asked for the timing and "exact circumstances" that led it to remove apps Phhhoto, MessageMe, Voxer and Stackla, Facebook replied that it "will restrict apps that violate its policies," without disclosing details.

On a related note, Senators Josh Hawley, a Missouri Republican, and Chris Coons, a Delaware Democrat, wrote to Facebook Tuesday to ask how the social media giant acquires users' locations, why locations are collected and if collection occurs when users have asked that it not be.

Apple answered questions about its browser and commissions it pays in its App Store, and addressed other issues, most of which are generally known. It said exactly two employees had sought to take disputes to arbitration. But asked how much it had spent on its map app that competes with Google, it said only "billions."

Amazon.com said in its response that it uses aggregated data from merchants on its third-party marketplace for "business purposes," but denied using the data to launch, source or price private-label products.

As of Sept. 29, there were approximately 384,000 U.S. active individual seller accounts on Amazon and approximately 514,000 active professional seller accounts in the U.S, the company said.

Amazon also acknowledged asking third-party merchants to lower their price on Amazon.com, when it finds merchants sell items for less on a competing website.

Amazon declined, however, to say how many Amazon private label products are sold at cost or below cost, how much revenue and profit Amazon makes from selling private brands or how it prices such items.

Amazon said it has 45 brands encompassing 158,000 private-label products, as well as some private brand items that are part of its Amazon Fresh grocery delivery service.

(Reporting by Diane Bartz, Nandita Bose and David Shepardson in Washington; Paresh Dave and Katie Paul in San Francisco; Editing by Nick Zieminski)

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET -0.12% 1346.87 Delayed Quote.28.89%
AMAZON.COM 0.03% 1760.94 Delayed Quote.17.20%
APPLE INC. 1.36% 275.15 Delayed Quote.72.09%
FACEBOOK -1.34% 194.11 Delayed Quote.48.07%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on APPLE INC.
12:11aTrade deal removes major hurdle for rally in Apple and tech
12/13Google, Apple asked if apps like TikTok must disclose foreign ties
12/13APPLE : Google, Apple asked if apps like TikTok must disclose foreign ties
12/13Tech Up as Limited Trade Deal Seen Positive for Sector -- Tech Roundup
12/13Trade deal removes major hurdle for rally in Apple and tech
12/13WALL STREET STOCK EXCHANGE : Wall Street steady as U.S., China announce trade de..
12/13How You Can Get Big Gains That Wall Street Can't
12/13PayPal Sues on Card Regulation -- WSJ
12/13Liberty Media Sets Sights On iHeart -- WSJ
12/12Tech Up On Trade-Deal Hopes -- Tech Roundup
More news
Financials (USD)
Sales 2020 276 B
EBIT 2020 66 780 M
Net income 2020 56 558 M
Finance 2020 89 846 M
Yield 2020 1,15%
P/E ratio 2020 21,1x
P/E ratio 2021 18,5x
EV / Sales2020 4,11x
EV / Sales2021 3,85x
Capitalization 1 223 B
Duration : Period :
Apple Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 262,41  $
Last Close Price 275,15  $
Spread / Highest target 24,4%
Spread / Average Target -4,63%
Spread / Lowest Target -45,5%
EPS Revisions
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
Sector and Competitors
1st jan.Capitalization (M$)
APPLE INC.72.09%1 222 564
XIAOMI CORP--.--%31 827
FITBIT, INC.32.60%1 728