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    AAPL   US0378331005

APPLE INC.

(AAPL)
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Top U.S. antitrust lawmaker targets Big Tech with new bills -sources

06/09/2021 | 05:25pm EDT
FILE PHOTO: The logos of Amazon, Apple, Facebook and Google

WASHINGTON (Reuters) - Lawmakers in the House of Representatives are working on drafts of five antitrust bills, four of them aimed directly at reining in Big Tech, and may introduce them within days, according to three sources familiar with the matter.

Reuters has read discussion drafts of five measures. Sources familiar with the process say they may be changed before they are introduced. They may be introduced this week but that may be delayed, two sources said.

Among the five bills being considered, two address the problems of platforms, like Amazon.com, creating a space for businesses to sell products and then competing against those products.

One of the two would make it illegal in most cases for a platform to advantage its own products on its platform with potentially a fine of 30% of the U.S. revenues of the affected business if they violate the measure. A second requires platforms to sell any business if owning it creates an incentive for the platform to advantage its own products or lines of business.

A third bill would require a platform to refrain from any merger unless it can show the acquired company does not compete with any product or service the platform is in.

A fourth would require platforms to set up a way for users to transfer data if they desire, including to a competing business. A fifth is similar to a Senate measure that would raise what the Justice Department and Federal Trade Commission (FTC) charge to assess the biggest companies to ensure their mergers are legal and increase the budget of the agencies.

The House Judiciary Committee's antitrust panel wrote a report that was issued in October 2020 that spelled out abuses by four big technology companies, Alphabet Inc's Google, Apple Inc, Amazon.com and Facebook. The report -- which was scathing -- suggested expansive changes to antitrust law.

(Reporting by Diane Bartz; Editing by David Gregorio)

By Diane Bartz


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.17% 2440 Delayed Quote.39.00%
AMAZON.COM, INC. 1.71% 3513.335 Delayed Quote.6.05%
APPLE INC. 0.81% 133.3967 Delayed Quote.-1.68%
FACEBOOK INC 1.58% 337.59 Delayed Quote.21.65%
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Financials (USD)
Sales 2021 354 B - -
Net income 2021 86 501 M - -
Net cash 2021 36 915 M - -
P/E ratio 2021 25,7x
Yield 2021 0,64%
Capitalization 2 208 B 2 208 B -
EV / Sales 2021 6,13x
EV / Sales 2022 5,84x
Nbr of Employees 147 000
Free-Float 99,9%
Chart APPLE INC.
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Technical analysis trends APPLE INC.
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 45
Last Close Price 132,30 $
Average target price 155,99 $
Spread / Average Target 17,9%
EPS Revisions
Managers and Directors
NameTitle
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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