19:00:31 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Apple CDR (CAD Hedged)
Symbol AAPL
Shares Issued 8,950,000
Close 2024-03-19 C$ 26.08
Market Cap C$ 233,416,000
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Globe says critic sees Apple as a thin-skinned monopoly

2024-03-20 08:19 ET - In the News

The Globe and Mail reports in its Wednesday edition that last week, Apple reversed an earlier decision deleting the developer account of Epic Games, maker of the ultrapopular Fortnite video game franchise. Guest columnist Keldon Bester writes that Apple's reason for doing so stemmed from disparaging tweets from Epic's chief executive officer, Tim Sweeney. Under pressure, Apple later reinstated Epic Games's account, but the whole episode speaks to something disturbing: the nature of the bully based economy, where a single company can shut off access to a multimillion-dollar sales channel because one CEO was rude to another. Epic was using its developer account to create a version of its own app store, the Epic Games Store, within Apple's iOS operating system environment. That it was able to do so at all was the result of the European Union's Digital Markets Act (DMA), a sweeping piece of legislation designed to break down the walls that have been built around facets of digital life, such as search engines, e-commerce platforms and app stores. Apple now cannot boot Epic Games for running an app store. Mr. Bester argues that Epic's conflict with Apple is emblematic of the monopoly problem in digital markets.

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