Apple and Meta Platforms will likely face charges for failing to comply with landmark EU rules aimed at reining in their power before the summer, three people with direct knowledge of the matter said on Friday. The European Commission, which launched investigations into the two companies and Alphabet's Google in March under the Digital Markets Act (DMA), sees Apple and Meta as priority cases, the people said. The DMA requires Big Tech to open up space for smaller rivals to compete and make it easier for people to move between competing online services like social media platforms, internet browsers and app stores...

Market Chatter: Apple Facing Potential Fine for Alleged Violation of EU's Digital Markets Act...

Apple (NASDAQ:AAPL) has announced its partnership with Microsoft-backed OpenAI to integrate ChatGPT into iOS 18, iPadOS 18, and macOS 15 Sequoia. This announcement sparked yet another feud with Elon Musk, who expressed dissatisfaction with the move, to say the least. If Apple integrates OpenAI at the OS level, then Apple devices will be banned at my companies. That is an unacceptable security violation. — Elon Musk (@elonmusk) June 10, 2024 In a tweet on the social media platform X, formerly Twi...

Tesla (TSLA) and Apple (AAPL) have had eventful weeks: the EV company passed a shareholder vote in favor of CEO Elon Musk's pay package, and the tech giant announced new AI initiatives at its Worldwide Developers Conference. Despite the positive news, Bireme Capital founder and chief investment officer Evan Tindell is short-selling both stocks and joins Catalysts to share his reasoning. "It's been a very difficult period for shorting any stocks... but for us it kind of rhymes with the 2021 period where, of course you had the SPAC craze," Tindell explains. He continues, "the growing valuations, or overvaluations in our view, of some of these stocks in 2021 contributed to huge underperformance of the Nasdaq and other sort of growth names in 2022, which allowed us to outperform by around 50%." When it comes to Apple, Tindell is skeptical that its AI replacement cycle can drive $300 billion of value. He notes that if AI drives more searches to Siri over Safari, it could end up endangering Google (GOOG, GOOGL). For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl...