Apple’s Cupertino Headquarters
Despite Warren Buffets buying shares, Apple is in trouble. Sales of the ohso expensive iPHONE are tumbling. It seems more than possible that Trump’s trade war will justify a Chinese ban on sales of the American brand within China’s huge bourgeoisie. So what else has Curptino to justify it massive near trillion dollar stock value?
The Play Store?
Last Monday, the U.S. Supreme Court on Monday approved a lawsuit accusing Apple Inc of monopolizing the market for iPhone apps. Apple shares fell more than 10%. The 5-4 ruling upheld a lower court’s decision that a lower court can decide if Apple can extract a 30 percent commission on purchases.
The polarization of the Roberts court was also interesting. Trump appointee Brett Kavanaugh, sided with the four liberal justices to rule against Apple and he wrote the decision. Kavanaugh said, “Leaving consumers at the mercy of monopolistic retailers simply because upstream suppliers could also sue the retailers would directly contradict the longstanding goal of effective private enforcement in antitrust cases.”