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(Bloomberg) -- The Justice Department is poised to sue Apple Inc. as soon as Thursday, accusing the world’s second most valuable tech company of violating antitrust laws by blocking rivals from accessing hardware and software features of its iPhone.Most Read from BloombergTrump Rules Out Vivek Ramaswamy as Running Mate as He Eyes New TeamSam Bankman-Fried Says 50-Year Sentence Only Suitable for a ‘Super Villain’What Happens If Trump Can’t Post His $454 Million BondFed to Give Fresh Clues on Path...
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First came the Magnificent Seven. And then Wall Street analysts began doubting the strength of the tech sector, quickly coining the term "Fantastic Four" to exclude several of the biggest laggards in 2024. Now, Evercore ISI is pairing together a new group of tech stocks as big as the previous two — "the Electric Eleven," comprised of Airbnb (ABNB), Alphabet (GOOG, GOOGL), Amazon (AMZN), Booking Holdings (BKNG), DoorDash (DASH), Meta Platforms (META), Netflix (NFLX), Shopify (SHOP), Spotify (SPOT), The Trade Desk (TTD), and Uber (UBER). Evercore ISI Senior Managing Director and Head of Internet Research Mark Mahaney explains where the similarities between these companies lie and their core drivers. "I think most of these digital-first companies are beneficiaries of gen AI. They're going to be able to figure it out, they're going to deploy, or they already have in ways that improve products and processes and they're and I think shareholders will benefit from that," Mahaney explains. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan...
Continue ReadingMeta Platforms, Microsoft, Elon Musk's X and Match Group on Wednesday joined "Fortnite" video game maker Epic Games' protest that Apple has failed to honor a court-ordered injunction governing payments in its lucrative App Store. The technology companies, which developed some of the most popular apps in the App Store, said Apple was in "clear violation" of the Sept. 2021 injunction by making it difficult to steer consumers to cheaper means to pay for digital content. Apple declined to comment specifically on the accusation, which was contained in a filing with the Oakland, California federal court...
Continue ReadingPolicymakers still see three rate cuts in 2024. DraftKings and Arista Networks led stocks flashing buy signals. Micron surged on a surprise profit...
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EV companies are starting to hurt as demand fails to live up to expectations...
Continue ReadingGoogle stock perked up on reports of talks to license Alphabet's Gemini AI training to Apple for use in iPhones...
Continue ReadingThe U.S. Federal Communications Commission is investigating Amazon and other retailers for the alleged marketing and selling of unlawful electronic devices, an FCC spokesperson told Reuters on Wednesday. "We have several ongoing investigations into retailers, including Amazon, for potential violations of Commission rules related to the marketing and sale of equipment without proper FCC authorization," said Jonathan Uriarte, Director of Strategic Communications at the FCC...
Continue ReadingThe majority of Tesla's staff in Germany decided against the IG Metall Union and opted for non-unionised workers for the new works council, the company said on Wednesday in a statement. The IG Metall union still expects to take 16 of 39 seats, making it the largest group in the new Tesla Gruenheide plant works council, the union said in a separate statement. The top German trade union had hoped to gain greater influence over pay and working conditions after it accused the U.S. carmaker of inadequate safety provisions...
Continue ReadingAlphabet's Google on Thursday will seek to fend off criticism about changes to its core services mandated by landmark EU tech rules, according to a copy of a senior Google executive's speech seen by Reuters. Oliver Bethell, a lawyer who leads Google's EMEA competition team, will tell regulators and rivals that balancing the various interests has required the tech company to make complex trade-offs, according to the document. Under the Digital Markets Act (DMA), which kicked in on March 7, users can remove any Google pre-installed software or app if they want while Google will need their consent to use their data across its various services or for personalised ads...
Continue Reading(Bloomberg) -- A second US Senator has attacked Microsoft Corp.’s operations in China, adding to a wave of criticism from human rights groups following a Bloomberg Businessweek investigation about the way it censors its Bing search engine in the country.Most Read from BloombergTrump Rules Out Vivek Ramaswamy as Running Mate as He Eyes New TeamSam Bankman-Fried Says 50-Year Sentence Only Suitable for a ‘Super Villain’What Happens If Trump Can’t Post His $454 Million BondFed to Give Fresh Clues on...
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