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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
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UK court blocks Epic Games from contesting Apple's Fortnite ban

02/22/2021 | 03:15pm EST
The popular video game

(Reuters) - The UK antitrust tribunal ruled on Monday that Epic Games, the creator of popular game Fortnite, will not be allowed to pursue its case against Apple Inc in the United Kingdom over its App Store payment system and control over app downloads.

The two companies have been at loggerheads since August, when the game maker tried to avoid Apple's 30% fee on the App Store by launching its own in-app payment system, which led to Apple's subsequent ban of Fortnite from its store.

The UK tribunal said Epic's suit against Alphabet Inc's Google could move forward, but deemed that the United States would be a better forum for its case against Apple.

"Epic will reconsider pursuing its case against Apple in the UK after the resolution of the U.S. case," the video game company said in a statement in response to the tribunal's ruling.

Apple and Google did not immediately respond to Reuters requests for comment.

In October, a federal judge in California ruled in an injunction request that Apple could bar the Fortnite game from its App Store but must not harm Epic's developer tools business, which includes the "Unreal Engine" software used by hundreds of other video games.

Epic Games founder and Chief Executive Tim Sweeney had previously said Apple's control of its platform had tilted the level playing field.

(Reporting by Chavi Mehta, Ayanti Bera and Subrat Patnaik in Bengaluru; Editing by Krishna Chandra Eluri)


© Reuters 2021
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Financials (USD)
Sales 2021 333 B - -
Net income 2021 74 693 M - -
Net cash 2021 58 731 M - -
P/E ratio 2021 28,9x
Yield 2021 0,66%
Capitalization 2 145 B 2 145 B -
EV / Sales 2021 6,26x
EV / Sales 2022 5,98x
Nbr of Employees 147 000
Free-Float 99,9%
Chart APPLE INC.
Duration : Period :
Apple Inc. Technical Analysis Chart | AAPL | US0378331005 | MarketScreener
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 149,33 $
Last Close Price 127,79 $
Spread / Highest target 36,9%
Spread / Average Target 16,9%
Spread / Lowest Target -35,0%
EPS Revisions
Managers and Directors
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Luca Maestri Chief Financial Officer & Senior Vice President
Arthur D. Levinson Independent Chairman
Kevin M. Lynch Vice President-Technology
Jeffrey E. Williams Chief Operating Officer
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