Apple Recap: Antitrust Problems, Korean Expansion, and the iWatch
Shares of Apple (NASDAQ:AAPL) soared as high as $421.63 on Tuesday. Although shares tumbled down slightly from that height, they did close in the green for the second consecutive day. The iPhone maker’s stock ended the day up $8.72, or 2.13 percent, at $417.92. Here’s a cheat sheet to today’s top Apple stories:
Do French Antitrust Problems Bode Poorly for Apple?
Apple has had a busy week, first dealing with flak for not paying taxes in the U.K., applying for an iWatch patent in Japan in Russia, and now, getting raided on behalf of an angry French businessman.
According to a statement by the French competition regulator, offices were raided as a part of ongoing antitrust investigations by a watchdog group. The concerns arose over Apples pricing practices, which one French retailer, eBizcuss, claims put it out of business. The French company claims that Apple didn’t keep its stores stocked enough to be competitive — and moreover, that it charged more for the iPhones wholesale to the retailer than it did to consumers… (Read more.)