The U.S. Department of Justice filed a lawsuit against Apple Thursday, accusing the company led by CEO Tim Cook of engaging in anti-competitive business practices.
The allegations include claims that Apple prevents competitors from accessing certain iPhone features and that the company’s actions impact the “flow of speech” through its streaming service, Apple TV+.
This is not the first time Apple has faced legal action from the DOJ.
In 2012, the agency sued Apple for conspiring with publishers to increase ebook prices, a lawsuit that was not settled until 2016.
Morgan Stanley analysts said Friday that the current lawsuit could also favor Apple, as many similar allegations have already been ruled on by a judge in the Apple vs Epic case, with the ruling stating that Apple does not violate antitrust laws.
The company’s iPhone revenue in India jumped 42% year-on-year in 2023 to $8.7 billion, Morgan Stanley wrote in a note on Friday.
India’s iPhone business is now larger than any standalone country in the European Union, Morgan Stanley added.
This compares to China iPhone shipments, which represented 20% of iPhone shipments and revenue in CY23 (down 1-2 points Y/Y, respectively),” the analysts wrote.
The average iPhone sold in India last year had around 260GB of memory, a 26% increase over 2022, Morgan Stanley said.
Morgan Stanley estimates the tech giant’s India revenue will reach $40 billion by 2032.
“Pier is building ‘Stripe for credit,’ which is a way for companies to automate their own credit products.”Here’s how it works: Developers add Pier’s APIs with a few lines of codes, saving months of labor and millions of dollars, Zhang said.
Pier’s technology then manages the credit lifecycle from end-to-end, including origination, underwriting, compliance and servicing.
Other companies have also claimed to be “Stripe for credit,” for example, Setpoint, a startup that developed software for faster loan transactions.
Even Stripe itself created new credit products for businesses about six months ago.
Other solutions out there address specific components of the lifecycle, like underwriting or Know Your Customer, while Pier provides a more comprehensive offering.
