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OFFON

AMAZON.COM, INC.

(AMZN)
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German competition watchdog launches Apple investigation

06/21/2021 | 06:11am EDT

BERLIN, June 21 (Reuters) - Apple became the fourth major digital company to face closer scrutiny from Germany's antitrust watchdog on Monday after the cartel office said it had launched an investigation into whether the tech giant is exploiting its market position.

The Bonn-based watchdog said it will examine whether Apple has "paramount significance across markets" that thwarts competition.

"A key focus of the investigation will be the operation of the App Store, as in many cases it empowers Apple to influence the operations of third parties," said Andreas Mundt, president of the Federal Cartel Office (FCO).

The watchdog has made use of enhanced powers gained under recent reforms to Germany's competition laws to open investigations into Alphabet's Google, Facebook and Amazon over their data practices.

Further proceedings against Apple are also being considered with regard to complaints received about potentially anti-competitive practices, the watchdog said.

These include a complaint that Apple gives itself preferential treatment by pre-installing its own applications, the watchdog said.

An Apple spokesperson said the company's App Store has given German developers of all sizes the same opportunity.

"We look forward to discussing our approach with the FCO and having an open dialogue about any of their concerns," the spokesperson added. (Reporting by Riham Alkousaa and Supantha Mukherjee Writing by Caroline Copley Editing by Edmund Blair and David Goodman)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -0.77% 2694.53 Delayed Quote.53.74%
AMAZON.COM, INC. -7.56% 3327.59 Delayed Quote.2.17%
APPLE INC. 0.15% 145.86 Delayed Quote.9.93%
FACEBOOK INC -0.56% 356.3 Delayed Quote.30.44%
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Financials (USD)
Sales 2021 476 B - -
Net income 2021 27 144 M - -
Net cash 2021 62 199 M - -
P/E ratio 2021 62,9x
Yield 2021 -
Capitalization 1 678 B 1 678 B -
EV / Sales 2021 3,39x
EV / Sales 2022 2,81x
Nbr of Employees 1 298 000
Free-Float 82,1%
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Technical analysis trends AMAZON.COM, INC.
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Mean consensus BUY
Number of Analysts 53
Last Close Price 3 327,59 $
Average target price 4 161,03 $
Spread / Average Target 25,0%
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Managers and Directors
Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
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