Why Apple Stock Dropped Today
Shares of Apple's (NASDAQ: AAPL) fell 3.3% on Friday after a federal judge made a decision that could have wide-ranging implications for the tech industry.
U.S. District Judge Yvonne Gonzalez Rogers issued an injunction that will prohibit Apple from denying developers the ability to direct users to other payment methods outside its App Store.
"The Court concludes that Apple's anti-steering provisions hide critical information from consumers and illegally stifle consumer choice," Rogers said. "When coupled with Apple's incipient antitrust violations, these anti-steering provisions are anticompetitive and a nationwide remedy to eliminate those provisions is warranted."
Source Fool.com
