Apple Inc. (AAPL) Challenges EU Law Requiring it to Open up to Rivals

Apple Inc. (NASDAQ:AAPL) is challenging an EU order requiring the company to open up its closed ecosystem to rivals, terming the demands as ‘unreasonable’.

In March, the EU’s antitrust regulators asked the iPhone maker to comply with the Digital Markets Act, which aims to rein in the power of large tech companies.

Apple Inc. (AAPL) Challenges EU Law Requiring it to Open up to Rivals

A busy sidewalk filled with people using Apple devices like iPhones, iPads and Apple Watches.

Apple Inc. (NASDAQ:AAPL) on Monday said the interoperability requirements hamper innovation. It also cited the privacy risks that come with it. Here is what the company said in a statement:

“These deeply flawed rules that only target Apple – and no other company – will severely limit our ability to deliver innovative products and features to Europe, leading to an inferior user experience for our European customers. These requirements will also hand data-hungry companies sensitive information, which poses massive privacy and security risks to our EU users.”

Garmin, Google, Meta, and Spotify are among the companies that have sought access to Apple Inc. (NASDAQ:AAPL) users’ data. The EU order mandates Apple to make its iOS operating system more compatible with rival tech companies’ products.

While we acknowledge the potential of AAPL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AAPL and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: ChatGPT Stock Advice: Top 12 Stock Recommendations and 10 Cheap Rising Stocks to Buy Right Now.

Disclosure: None.