Antitrust suits generally don’t help the target’s stock price. From QTR Fringe Finance via zerohedge.com:
It’s an interesting juxtaposition when a black swan that you expected crosses your path but looks a bit different than you had previously suspected it would.
This was exactly the case yesterday when the Department of Justice brought its “landmark” antitrust lawsuit against Apple. At first, I wrote it off as just yet another antitrust case that would eventually be settled and become ancient history. After all, antitrust headlines hit the wire what seems like every single day. As a market observer, it is pretty routine, and I don’t pay much attention to them. Here’s yesterday’s story from CNBC:
The Department of Justice sued Apple on Thursday, saying its iPhone ecosystem is a monopoly that drove its “astronomical valuation” at the expense of consumers, developers and rival phone makers.
The government has not ruled out breaking up one of the largest companies in the world, with a Justice Department official saying on a briefing call that structural relief was on the table if the U.S. were to win.
The lawsuit claims Apple’s anti-competitive practices extend beyond the iPhone and Apple Watch businesses, citing Apple’s advertising, browser, FaceTime and news offerings.
“Each step in Apple’s course of conduct built and reinforced the moat around its smartphone monopoly,” according to the suit, filed by the DOJ and 16 attorneys general in New Jersey federal court.
Forgive me for asking, but isn’t ‘winning’ at the expense of rival product makers what the business world is all about?
Read a great Substack stating that they intend to nationalize Apple for the gaslight control value.
The great keyboard as Joseph Goebbels spoke of about state media.
No fan of Apple but they should fight this down to the last lawfare dollar.
This just in from Love 666:
Preparation For Combat.