Apple
CEO
Tim
Cook
listens
as
President
Joe
Biden
speaks
during
a
roundtable
with
American
and
Indian
business
leaders
in
the
East
Room
of
the
White
House
in
Washington,
D.C.,
on
June
23,
2023.
Anna
Moneymaker
|
Getty
Images
Apple
shares
slid
less
than
1%
on
Friday
after
The
New
York
Times
reported
that
the
U.S.
Department
of
Justice
is
preparing
an
antitrust
lawsuit
against
the
iPhone
maker,
which
could
be
filed
as
soon
as
this
year.
The
agency’s
lawsuit
could
target
how
the
Apple
Watch
works
exclusively
with
the
iPhone,
as
well
as
the
company’s
iMessage
service,
which
is
also
solely
available
on
Apple
devices.
It
could
also
focus
on
Apple
Pay,
the
company’s
payments
system,
according
to
the
report.
The
lawsuit,
if
it
comes
to
pass,
would
be
the
biggest
antitrust
risk
for
Apple
in
years.
The
U.S.
is
Apple’s
largest
market,
and
Apple
says
the
way
in
which
iMessage
and
the
Apple
Watch
work
are
essential
features
that
distinguish
iPhones
from
Android
phones.
The
news
comes
as
investors
and
analysts
have
started
to
fret
about
the
various
regulatory
risks
facing
Apple,
including
new
regulations
in
Europe
over
the
company’s
App
Store’s
control
over
iPhone
software
distribution,
as
well
as
a
recent
Justice
Department
trial
targeting
Google’s
search
deals,
including
its
lucrative
arrangement
with
Apple.
“While
Apple’s
share
price
increased
by
48%
in
2023,
our
concerns
regarding
Apple’s
legal
risks
have
intensified
in
recent
months,”
CFRA
analyst
Nick Rodelli
wrote
in
a
note
Friday.
Apple
CEO
Tim
Cook
will
meet
with
the
European
Commission’s
top
antitrust
enforcer,
Margrethe
Vestager,
next
Thursday.
A
representative
for
Apple
declined
to
comment.
The
Department
of
Justice
did
not
immediately
respond
to
CNBC’s
requests
for
comment.
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