Indian authorities are pushing back against Apple’s efforts to limit potential antitrust fines. The Competition Commission of India (CCI) defended its legal framework for levying penalties based on a company's global turnover. The CCI opposes Apple's challenge that this basis leads to disproportionate fines for issues confined to India.
This stance comes as regulators prepare to fine Apple for alleged anti-competitive practices in its App Store. Potential penalties reportedly reach as high as $38 billion.
This regulatory challenge surfaces amidst growing investor concerns about Apple's market position. Reports highlighted that Alphabet's market capitalization briefly surpassed Apple's on the same day. This shift is attributed to stronger investor confidence in Google's AI strategy.
Analysts also pointed to market fears regarding Apple's profit margins. Significant spikes in DRAM memory costs threaten these margins ahead of the company's upcoming earnings report.