Apple Loses $113 Billion in Value After Regulators Close In
Apple isn't backing out without a fight as it has fired back at the lawsuits.
Apple is facing a tumultuous year having been at the receiving end of multiple lawsuits from the European Union (EU) to the US Justice Department which cost the company over $113 billion in market value.
This was confirmed on Thursday as Apple underperformed both the Nasdaq 100 and the S&P 500 and witnessed a 4.1% drop in the value of its shares taking its year-to-date loss back to 11%, according to a report from Bloomberg.
This would not be the first time the tech giant has come under severe regulatory scrutiny as the United States government continues to fear and take proper precautions against the company's growing power.
Meanwhile, Apple isn't backing out without a fight as it has fired back at the lawsuits reiterating that the facts presented against it were wrong and that it is constantly vying to innovate every day to make technology people love and enjoy.
