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...The EU’s move comes as it imposes new scrutiny on the iPhone maker, particularly over the company’s $85bn-a-year services business....
...Apple responded by saying that “the changes we’re sharing for apps in the European Union give developers choice — with new options to distribute iOS apps and process payments”....
...They hope to work with Apple to make changes to the new policy. If those negotiations fail, they would explore legal or regulatory options, said people familiar with the matter....
...The Wall Street Journal first reported news of the apps’ removal....
...Revenues have been flattish at Apple for a while, but the sell-off is recent. Similarly China risk — it’s just not a new story. Valuation is never much of an explanation on its own....
...The EU has launched probes into Apple, Alphabet and Meta in the first use of a landmark new law designed to rein in Big Tech’s market power....
...Where’s Apple’s ChatGPT? Where’s its . . . uh, Motorola StarTAC? Apple has no product in foldables (1% of market, used to be 20%), and there appears to be no obvious AI strategy. 7....
...The commission said it was investigating under the Digital Markets Act, a new law aimed at curbing the power of the biggest online platforms....
...We enjoyed meeting Unhedged readers at Tuesday’s FT Alphaville pub quiz in New York, where a team from GIC, the Singaporean sovereign wealth fund, brought home gold....
...Competition between the tech giants is ruthless, and new technologies — especially AI — are likely to reshape the industry in ways we can’t even imagine....
...Apple’s iPhone is one of the world’s most innovative and popular gadgets. With more than 1bn daily users, it has created a whole new industry and forms of digital behaviour....
...Apple, however, is so far missing out on much of that broader industry recovery....
...But it has not been willing to fund a new supply chain for mass car production. Scrapping a project with high upfront costs makes sense. Competition has grown. Tesla has been forced to cut its prices....
...Whether they launch a new campaign for more rigorous labour audits at Apple and Starbucks — and how much support they can rally among other major shareholders — will help decide the outlook for this branch...
...Berkshire did not disclose any new investments in the fourth quarter of 2023, although it increased its holdings in satellite radio operator SiriusXM and in oil majors Chevron and Occidental Petroleum....
...They further claimed that on the same call Cook overstated the success of new iPhone models, only to start cutting production days later....
...Apple’s mammoth buyback programme could be one casualty. In the last fiscal year, Apple spent twice as much buying back its own shares as it did on R&D....
...“I should have done some work on Apple,” he lamented on CNBC’s Squawk Box last year....
...At lunchtime on Thursday in Shanghai, hours ahead of the opening, hundreds of people were already gathered in the area around the cordoned-off new store....
...But privately, regulators say Apple’s handling of the new law has caused the greatest outrage in Brussels....
...Liu, who asked that his first name be withheld, swapped his iPhone for Huawei’s new Mate 60 in October....
...For Apple shareholders, this will in many ways be welcome news. If the main battlefield for AI is the smartphone, then it points to a new lease of life for the iPhone....
...Companies that violate the new EU law face fines of 10 or 20 per cent of their global revenue. For Apple, that would be $77bn....
...The March deadline, he said, would mark the beginning of a new back and forth between the EU and Apple....
...This month Apple released its new spatial computing headset, the Vision Pro, and has been spending on new chips and employees as it prepares to bring AI features to its devices....
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