SPOT - Apple Stock Is Falling Monday: What's Going On? | Benzinga
Apple Inc (NASDAQ:AAPL) shares are trading lower. The tech giant was hit with a hefty fine on Monday for preventing music streaming services from informing users of alternative payment methods.
What To Know: The European Commission fined Apple more than 1.8 billion euros ($1.95 billion) on Monday for preventing Spotify Technology S.A. (NYSE:SPOT) and other streaming platforms from sharing payment options outside of Apple’s App Store, per Reuters.
“For a decade, Apple abused its dominant position in the market for the distribution of music streaming apps through the App Store,” EU antitrust chief Margrethe Vestager reportedly said in a statement.
“They did so by restricting ...