European regulators launched an investigation into the two tech giants, along with Alphabet (parent company of Google), for possible violations.
According to insiders, the European Commission has its sights set on fining both Apple and Meta for failing to comply with rules under the Digital Markets Act (DMA). The European regulators launched an investigation into the two tech giants, along with Alphabet (parent company of Google), in March of this year for possible violations.
If either of the two companies are found to be in violation, it would be the first time since the passing of DMA that a company has faced potential fines. According to a few people with inside knowledge, Apple seems to be the one in the proverbial hot seat. If the Cupertino-based company is found to be in violation, it could face daily penalties for non-compliance of up to 5% of its average daily worldwide turnover, which is estimated to be a little more than $1 billion.
