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    AAPL   US0378331005

APPLE INC.

(AAPL)
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APPLE : FTC looks at Google-Apple board ties: report

05/04/2009 | 08:56pm EDT
Google sign is seen at its headquarters in Mountain View

SAN FRANCISCO (Reuters) - The U.S. Federal Trade Commission has launched an inquiry into whether the ties between the boards of Apple Inc and Google Inc violate antitrust laws, the New York Times reported on Monday.

The FTC has already notified the companies of the inquiry the report said, citing people briefed on the matter.

Google Chief Executive Eric Schmidt and former Genentech CEO Arthur Levinson are directors of both companies. Under federal antitrust law, a person is not allowed to sit on the board of two companies if it decreases competition between them.

Both Apple and Google declined to comment.

The two companies compete directly or indirectly in a number of areas, the most obvious being the fast-growing smartphone market.

Apple's iPhone has been a huge hit for the company and is key to its future growth prospects. Google's Android operating system is used on T-Mobile's G1 smartphone.

In addition, the companies are both major rivals of software giant Microsoft Corp.

Separately, the U.S. Justice Department is also making inquiries about a class action settlement that Google reached giving it the right to digitize and sell entire libraries, according to experts on digitization.

Last week, U.S. President Barack Obama appointed Schmidt to the President's Council of Advisors on Science and Technology, a 20-member group that will help formulate policy on areas where understanding of science and technology is important.

(Reporting by Gabriel Madway and Alexei Oreskovic; Editing by Richard Chang)


© Reuters 2009
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 0.15% 145.86 Delayed Quote.9.93%
MICROSOFT CORPORATION -0.56% 284.91 Delayed Quote.28.10%
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Financials (USD)
Sales 2021 365 B - -
Net income 2021 93 366 M - -
Net cash 2021 78 467 M - -
P/E ratio 2021 26,3x
Yield 2021 0,59%
Capitalization 2 411 B 2 411 B -
EV / Sales 2021 6,39x
EV / Sales 2022 6,17x
Nbr of Employees 147 000
Free-Float 99,0%
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Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 47
Last Close Price 145,86 $
Average target price 162,20 $
Spread / Average Target 11,2%
EPS Revisions
Managers and Directors
Timothy Donald Cook Chief Executive Officer & Director
Luca Maestri Chief Financial Officer & Senior Vice President
Arthur D. Levinson Independent Chairman
Kevin M. Lynch Vice President-Technology
Jeffrey E. Williams Chief Operating Officer
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