On March 21 local time, Apple opened low and closed down 4.09% at $171.37, marking the largest daily decline since August 4, 2023, with its latest market value of $2.6 trillion. Its market value evaporated overnight by over 110 billion US dollars (approximately 800 billion yuan).
On the news front, according to CCTV news, on March 21st local time, US Attorney General Merrick Garland stated at a press conference that the US Department of Justice and Attorney General of more than a dozen states have filed antitrust lawsuits against Apple, accusing the company of monopolizing the mobile phone market using its control over Apple's hardware and software, harming the interests of consumers, developers, and competitor companies.
It is reported that the lawsuit filed by the US Department of Justice and 16 Attorney General in a federal court in New Jersey states that Apple's anti competitive behavior goes beyond the normal business scope of its phones and watches.
Galan stated that the Supreme Court defines monopolistic behavior as "the act of controlling prices or excluding competition.". Officials from the Ministry of Justice also stated that it is not ruled out to use the measure of splitting the company to resolve this antitrust lawsuit.
Apple stated that complying with regulatory regulations would cost a significant amount of money, may prevent it from launching new products or services, and may harm customer needs.
Apple statement stated that both in fact and in law, this lawsuit is untenable. Apple innovates day after day, creating technologies that people love, designing products that can seamlessly collaborate, protecting people's privacy and security, and creating a better experience for users. Apple believes that this case threatens its foundation and the principle of allowing its products to stand out in fierce competition. It warns that it will "set a dangerous precedent, allowing the government to exert a heavy hand on designing technology for the public," and promises to "vigorously defend itself.".
It is worth noting that on March 4th local time, the Executive Vice President and Competition Commissioner of the European Commission, Vestager, stated on social media that the EU imposed a fine of 1.84 billion euros on Apple on the same day, citing its monopolistic behavior in the streaming music business.
Vestager said that for the past decade, Apple has "abused" the advantage of the Apple Store in the release of streaming music software, preventing streaming music software vendors from informing consumers that "there are cheaper paid music services outside of the Apple ecosystem," thereby violating EU antitrust regulations.
When streaming music software providers provide services through the Apple Store, they need to pay a 30% commission to Apple, and cannot explain to consumers on Apple devices that the commission is included in the total price, cannot provide links to cheaper options, or even inform consumers via email that there are other cheaper options available.
The European Commission believes that Apple's approach may have resulted in many users of the Apple operating system paying "much higher" fees for streaming music services, as streaming music software providers need to pay "high commissions to Apple and pass them on to consumers.".
The EU investigation stems from an antitrust complaint filed by Swedish streaming music service provider Soundfield against Apple in 2019.
Vestag said that in the future, Apple must allow streaming music software providers to "freely communicate" with users in the Apple operating system.
Apple is dissatisfied with this penalty decision and has stated that it will appeal. Apple stated that the European Commission "has not found reliable evidence of consumer victimization, ignoring the reality of a thriving market full of competition and rapid development.".
The US stock index closed higher, Tesla fell more than 1%
The three major US stock indexes collectively closed higher, reaching a new historical high. The Dow Jones Industrial Average rose 0.68%, the S&P 500 Index rose 0.32%, and the Nasdaq rose 0.2%.
Tesla fell more than 1%, while Netflix and Google saw a slight decline; Nvidia rose more than 1%, while Microsoft and Meta saw a slight increase; Amazon closed flat. On the first day of its US IPO, Reddit rose approximately 48% to $50.44 per share, with an IPO price of $34 per share. Huiyue Finance's ADR has fallen by over 38%, with a cumulative decline of about 50% in the past two days of listing. It is now trading at $2.04 per share, and the previously offered IPO price was $4 per share.
Microsoft's first batch of AI computers has arrived
On Thursday, March 21st Eastern Time, Microsoft launched two PC Surface Pro 10 commercial versions and Surface Laptop 6 commercial versions, which will be shipped on April 9th. They are referred to by Microsoft as the "first batch of Surface AI PCs specifically designed for enterprises.".
As a computer for businesses, Microsoft does not directly sell the Surface Pro 10 and Surface Laptop 6 to individual consumers. In other words, these two PCs cannot be purchased through retail channels such as Target or Best Buy, and can only be purchased through Microsoft's website or commercial distributors.
In January of this year, when Microsoft announced the Copilot key, it was the first major keyboard revolution in nearly thirty years for Windows PCs, marking the beginning of the era of AI empowering Windows PCs. The Copilot key and the Windows key together become the core of a PC keyboard. When the user presses this new key, they will start the Copilot experience on Windows PC, in other words, one click direct access to the AI assistant.
On the outside, the commercial version of Surface Pro 10 is very similar to the previous generation of Intel's Surface Pro 9. Internally, it has two optional configurations of Core Ultra U series chips: Core Ultra 5 135U CPU and Ultra 7 165U CPU. It can be equipped with up to 64GB LPDDR5x RAM and 1TB SSD solid-state hardware. The basic configuration includes 8GB RAM memory and 256GB SSD, priced at $1199, which is equivalent to a starting price of $1199.
The starting price for the commercial version of Surface Laptop 6 is also $1199. It is equipped with two types of Core Ultra H series chips, namely the Core Ultra 5 135H CPU and the Ultra 7 165H CPU. The basic model is equipped with 8GB RAM memory and 256GB SSD, with a maximum of 64GB RAM and 1TB SSD.
The front facing camera of the Surface Laptop 6 commercial version has also been upgraded to 1080p, but it does not have the ultra wide angle as the Surface Pro 10 commercial version camera. However, users can use Windows Studio effects with background blur and automatic framing during video calls.
Due to the stronger functionality of the H-series chips compared to the U-series, it is a better choice than the Surface Pro 10 commercial version if users want to complete higher demanding tasks.
The commercial version of Surface Laptop 6 has added an anti reflective coating to its display screen, with two sizes available: 13.5 inches and 15 inches.
The 15 inch display version is equipped with two USB-C Thunderbolt 4 ports for the first time, as well as a regular USB-A, a headphone jack, and a Microsoft Surface Connect port for charging. The 13.5-inch version also has a headphone jack and a Surface Connect interface, but only one USB-C interface.
Microsoft claims that due to the use of Core Ultra H series chips, the commercial version of Surface Laptop 6 will run at twice the speed of its predecessor Laptop 5. Users who purchase the commercial version of Surface Laptop 6 in some markets also have an optional smart card reader and Microsoft's newly launched Copilot key, which is used to access the AI assistant Copilot for Windows 11.
As of the close of March 21st local time, Microsoft reported a price of $429.37, an increase of 0.97%, with a market value of $3.2 trillion.