Apple Faces EU Antitrust Fine: Implications and Potential Impact on Market

Apple has been hit with a €1.8bn fine by the EU for stifling competition in music streaming, leading to a 2.5% drop in share prices. Despite the fine being a small fraction of Apple's global sales, ongoing regulatory battles and the impending EU Digital Markets Act pose potential challenges. The Act is set to enforce stricter competition regulations, with Apple already making concessions. Additionally, the company faces antitrust scrutiny in the US, potentially impacting its high-margin services revenues. The confluence of regulatory actions amidst slowing growth has put Apple's business model at risk.