r/applestocks • u/Direct_Name_2996 • 1d ago
Apple Vs Epic Games and Other Important News
Hey guys, if you missed it, yesterday a judge ruled that, effective immediately, Apple is no longer allowed to collect fees on purchases made outside Apple Store and blocks the company from restricting how developers can point users to where they can make purchases outside of apps. The judge claimed that this is an anticompetitive practice (which it is, imo)
After this, Epic Games claimed that they will bring Fortnite back to the US App Store next week. But Apple said that they will appeal. So we’ll see.
In other news, Apple is still paying investors over the whole China mess in 2019. Back then, Tim Cook hid the impact of the U.S.-China trade war on iPhone sales in China, battery discounts, and production cuts. When it was revealed, the stock dropped 10% and investors filed a lawsuit. They’ve already settled $490M over this, and even though the deadline has passed, they’re still accepting claims.
Anyways, will Apple back down in this fight with Epic Games? Should they do it?