On Thursday morning, shares of Apple experienced a 3.3% decline following the announcement of a significant antitrust lawsuit by the US Justice Department against the tech giant. This legal action has contributed to Apple's stock dropping more than 10% since the beginning of the year.
Despite the market reaction, analysts suggest that Wall Street had been anticipating this lawsuit and had already factored it into their expectations. The concern now lies in the potential prolonged scrutiny that Apple may face, as well as the implications for other tech companies in the industry.
Analysts point out that this case will likely extend over a considerable period, subjecting Apple to increased regulatory oversight both domestically and internationally. The broader tech sector, including other major players, could also be impacted by the ripple effects of this legal challenge.
Meanwhile, Google's shares also saw a slight decrease of 0.9% on the same day. The company is facing its own antitrust case related to its ad-tech business, which is scheduled to go to trial in September.
