Tesla Inc (NASDAQ:TSLA) CEO Elon Musk says Apple Inc’s (NASDAQ:AAPL) app store fees is like having a “30% tax on the Internet.”
What Happened: Musk was responding to a Tweet by Slashdot that featured an article on how PayPal Holdings Inc (NASDAQ:PYPL) helped initiate a European Union antitrust complaint against Apple payments.
Musk, who is also a co-founder of PayPal, said it was “definitely not ok” that Apple’s store could extort a “30% tax.”
Apple’s store is like having a 30% tax on the Internet. Definitely not ok.
— Elon Musk (@elonmusk) May 3, 2022
See Also: How To Buy Tesla (TSLA) Stock
Why It Matters: This is not the first time Musk has said that Apple’s app store fees are a tax on the Internet.
Last year, Musk made similar comments in relation to “Fortnite” maker Epic’s fight against Apple.
At the time, the entrepreneur had said, “Apple app store fees are a de facto global tax on the Internet. Epic is right.”
Musk has been critical of Apple in other areas as well. He said he doesn’t like Apple News as it was a source of negativity.
Price Action: On Tuesday, Tesla shares closed 0.7% higher at $909.25 in the regular session and fell 0.2% in the after-hours trading. On the same day, Apple shares closed nearly 1% higher at $159.48 in the regular trading and gained another 0.1% in the after-hours session, according to Benzinga Pro data.
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