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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

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Tile says Apple's behavior is anticompetitive and has 'gotten worse, not better'

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04/01/2020 | 07:33pm EDT

Tile Inc, which helps users find lost items, told a congressional panel on Wednesday that Apple failed to live up to promises aimed at resolving a dispute between the two companies and introduced requirements that would hurt their business.

The smart-tracker maker was one of four companies that testified against the big tech platforms - Tile focused on Apple - in a January hearing in Colorado of a panel of the House of Representatives Judiciary Committee.

At the time, Tile's General Counsel Kirsten Daru said that the company had initially had a mutually beneficial relationship with Apple which deteriorated last year amid signs that Apple planned to bring out a similar product.

"Unfortunately, since that hearing, Apple?s anti-competitive behaviors have gotten worse, not better," Tile said in a statement to the committee posted online on Wednesday.

Tile had objected to Apple requiring its users to repeatedly agree to allow Tile to operate in the background, which is crucial to Tile's service. Without background location access, Tile's app can only detect when a user loses keys or a wallet if they happen to lose it while the app is open.

"Despite Apple?s multiple promises to reinstate 'Always Allow' background permissions option for third party apps' geolocation services, Apple has not yet done so," Tile said.

Tile also said that there were indications that Apple planned to update its Find My product, adding hardware, so it would be a competitor to Tile.

Apple declined comment but pointed to a response it made to the committee in February which said that iOS 13 was aimed at strengthening privacy practices by reminding users that a third-party app is potentially using their location data.

Apple's Find My app enables background location tracking, Tile said, without these reminders.

Reuters reported in February that the U.S. Justice Department has reached out to app developers as part of its investigation into Apple.

The committee is one of several investigations underway into the big tech platforms, which also include Alphabet's Google, Facebook and Amazon. The investigations are being carried out by the U.S. Justice Department, the Federal Trade Commission and two groups of attorneys general from dozens of states.

(Reporting by Diane Bartz; Additional reporting by Stephen Nellis and Nandita Bose)

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -0.21% 1439.25 Delayed Quote.7.46%
AMAZON.COM, INC. 0.24% 2478.4 Delayed Quote.33.80%
APPLE INC. 0.55% 325.12 Delayed Quote.10.72%
FACEBOOK -1.10% 230.16 Delayed Quote.12.14%
LANKA TILES PLC 0.00% 60 End-of-day quote.-21.77%
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Financials (USD)
Sales 2020 263 B - -
Net income 2020 54 105 M - -
Net cash 2020 64 622 M - -
P/E ratio 2020 26,3x
Yield 2020 0,99%
Capitalization 1 409 B 1 409 B -
EV / Sales 2019
EV / Sales 2020 5,11x
Nbr of Employees 137 000
Free-Float 99,9%
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Technical analysis trends APPLE INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 317,20 $
Last Close Price 325,12 $
Spread / Highest target 13,8%
Spread / Average Target -2,44%
Spread / Lowest Target -30,8%
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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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