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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

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EU digital chief to talk to tech giants over rules to curb their power

11/19/2020 | 10:04am EST
European Union flags flutter outside the European Commission headquarters in Brussels

BRUSSELS (Reuters) - The European Union's digital chief has invited companies including Alphabet, Apple, Amazon and Facebook to video talks next week to discuss draft rules to curb their powers, an EU official said on Thursday.

Tech companies and online platforms have lobbied intensively to try to blunt the proposed regulatory rules, which the Internal Market Commissioner Thierry Breton, responsible for digital regulation, will formally present with Competition Commissioner Margrethe Vestager on Dec. 9.

Ahead of that, the video conference on Nov. 24 will discuss the proposed rules, which are known as the Digital Services Act (DSA) and Digital Markets Act (DMA).

Some companies do not think the discussion will lead to changes at this late stage, people close to the companies said on condition of anonymity.

The DSA will require tech companies to explain how their algorithms work and also open up their ad archives to regulators and researchers.

The DMA targets online gatekeepers with a list of dos, such as sharing data with rivals and regulators, and don'ts, such as not favouring their own services.

Breton has invited chief executives from about 20 companies, which also include Microsoft, Booking.com, Expedia, Trivago, DuckDuckGo, a person familiar with the matter said. It was unclear whether CEOs would take part or send senior executives.

Breton will need feedback from EU countries and the European Parliament before a final draft can be adopted, a process which can take a year or more.

(Reporting by Foo Yun Chee; editing by Barbara Lewis)

By Foo Yun Chee


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 1.61% 139.07 Delayed Quote.3.15%
EXPEDIA GROUP, INC. -1.70% 136.52 Delayed Quote.3.11%
MICROSOFT CORPORATION 0.44% 225.95 Delayed Quote.1.15%
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Financials (USD)
Sales 2021 318 B - -
Net income 2021 67 229 M - -
Net cash 2021 96 637 M - -
P/E ratio 2021 34,7x
Yield 2021 0,61%
Capitalization 2 340 B 2 340 B -
EV / Sales 2021 7,06x
EV / Sales 2022 6,60x
Nbr of Employees 147 000
Free-Float 98,9%
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Technical analysis trends APPLE INC.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 133,29 $
Last Close Price 139,07 $
Spread / Highest target 15,0%
Spread / Average Target -4,16%
Spread / Lowest Target -42,5%
EPS Revisions
Managers and Directors
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Independent 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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