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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
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Real-time Estimate Quote. Real-time Estimate Cboe BZX - 11/30 04:14:31 pm
119.65 USD   +2.62%
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Apple : U.S. judge rules Apple could bar Epic Games's 'Fortnite' from App Store

10/09/2020 | 08:09pm EST

Oct 9 (Reuters) - A federal judge in California on Friday ruled in an injunction request that Apple Inc could bar Epic Games's "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.

"The Court maintains its findings from the temporary restraining order and hereby grants in part and denies in part Epic Games' motion for a preliminary injunction," District Judge Yvonne Gonzalez Rogers ruled.

Epic Games and Apple were not immediately available for comment on the ruling.

Last month, Epic Games had filed for a preliminary injunction that would put its game back in the App Store and restore its developer account after the iPhone maker terminated Epic Games' account on its App Store.

Epic sued Apple in August, claiming that the company's 30% commission on some in-app purchases made through its App Store, combined with Apple's controls over what apps users can download to their iPhones, constituted anticompetitive behavior. The lawsuit came after Epic rolled out its own payment system in the popular Fortnite video game.

Apple does not allow such alternative payment systems and removed Fortnite from the App Store and threatened to terminate Epic's developer accounts, which would have affected Epic's other business of selling software used to create games.

Epic moved to stop Apple from taking both steps. The judge previously issued an emergency order that allowed Apple to pull Epic's titles from the App Store but barred the iPhone maker from taking any action that would harm Epic's developer tools.

"Epic Games has strong arguments regarding Apple's exclusive distribution through the iOS App Store, and the in-app purchase ("IAP") system through which Apple takes 30% of certain IAP payments", the judge said in Friday's ruling.

However, she added that Epic Games has not sufficiently addressed Apple's counter arguments. "The equities, addressed in the temporary restraining order, remain the same." (Reporting by Kanishka Singh in Bengaluru and Stephen Nellis in San Francisco; editing by Peter Henderson and Grant McCool)


© Reuters 2020
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Financials (USD)
Sales 2021 315 B - -
Net income 2021 66 259 M - -
Net cash 2021 80 862 M - -
P/E ratio 2021 29,5x
Yield 2021 0,73%
Capitalization 1 982 B 1 982 B -
EV / Sales 2021 6,03x
EV / Sales 2022 5,68x
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
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 43
Average target price 127,20 $
Last Close Price 116,59 $
Spread / Highest target 28,7%
Spread / Average Target 9,10%
Spread / Lowest Target -35,7%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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