US app developer Blix’s founder Ben Volach has criticized Apple’s App Store rules in a letter written to European Union’s (EU) antitrust chief Margrethe Vestager, Reuters reported.
According to the report, Vestager, who is currently investigating Apple’s actions related to App Store and mobile payment system Apple Pay, is expected by the end of the year, to announce tough new rules known as the Digital Services Act for US tech giants so that they play fair.
Blix’s Volach said in the letter, seen by Reuters that iPhone maker Apple (AAPL) is not “playing fair.” He said “In writing this letter, we are trying to dispel a misconception perpetrated by Apple. The App Store is not a level playing field; developers are not treated equally when they compete with Apple’s own apps. Our own experience bears this out.”
He added that Apple tries to “fully control this essential marketplace and distribution channel in order to maintain its apps’ dominance to its competitors’ disadvantage.”
In October 2019, Blix had sued Apple for violating a patent and suppressing its BlueMail product, which was also removed from the Mac app store. BlueMail, however, returned back to the Apple App Store in February 2020. (See AAPL stock analysis on TipRanks).
On Sept. 21, Citigroup analyst Jim Suva raised the price target on Apple to $125 (13.6% upside potential) from $112.50 and maintained a Buy rating. Suva increased estimates for Apple’s Wearables segment, reflecting continued demand and higher consumer spending on technology gadgets. He added that the Apple Watch’s Family Setup feature will drive more customers to the user base. He also continues to believe that the iPhone 12 delay is still slated for launch in the holiday season.
Currently, the Street has a cautiously optimistic outlook on Apple. The Moderate Buy analyst consensus is based on 25 Buys, 7 Holds, and 3 Sells. The $121.83 average price target implies upside potential of 10.7% to current levels. Shares have risen about 50% year-to-date.
Related News:
Apple’s Annual Event a Tasty Appetizer but the iPhone 12 Launch is the Main Course
Trump Says TikTok Deal To Pass On ‘Zero Security Risk’ Condition – Report
Microsoft To Buy Gaming Firm ZeniMax For $7.5 Billion
