Apple sued by Fortnite maker

August 14, 2020 16:00

Apple's 100% monopoly on its iOS In-App Payment Processing Market has come into the spotlight once again. Video game maker, Epic Games, filed a lawsuit against the company after Apple removed its popular video game Fortnite from the App Store for payment policy violations.

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The battle between Epic Games and Apple is likely to intensify and is the latest in a series of disputes regarding Apple's App Store rules and policies. Many app makers have criticised the 30% cut Apple takes from digital sales in its app store as well as the company's approval process. Other app providers such as Spotify and Match Group have applauded Epic Game's fight against Apple.

However, the direct challenge to Apple and its policies has also been aimed at Google's payment rules as well. After the video maker filed the lawsuit, Google's Play Store also removed the Fortnite video game app. The story is a huge deal as in the past 30 days around the world, Fortnite was installed 2.4 million times in Apple's App Store. Figures suggest that amounts to $1.2 billion worth of spending in the App Store.

This is not the first time Apple's App Store policies have been in the spotlight. Only in July of this year, Apple CEO Tim Cook was called to the House antitrust subcommittee to defend the company's policies.

How to trade Apple shares with Admiral Markets UK Ltd

If you are feeling bullish or bearish on Apple's share price you can speculate on its price direction using CFDs. To get started, follow these five simple steps:

  1. Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
  2. Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
  3. Type in Apple at the bottom of the Market Watch search box and then drag the symbol onto the chart.
  4. Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
  5. Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.

Source: Admiral Markets MetaTrader 5 Web, #AAPL, Weekly - Data range: Nov 13, 2011 to Aug 14, 2020. Please note: Past performance is not a reliable indicator of future results.

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