Apple loses $113 billion in value as European, US regulators close in

Regulators on both sides of the Atlantic are training their eyes on Apple Inc., unnerving investors with fears over fines and threatening its market dominance.

In the US, the Justice Department and 16 attorneys general are suing the iPhone maker for violating antitrust laws. And in Europe, the company is said to be facing probes about whether it’s complying with the region’s Digital Markets Act.

Shares of the company slid 4.1 per cent Thursday, erasing about $113 billion in market value and taking their year-to-date loss back to 11 per cent. Once the world’s most valuable firm at more than $3 trillion, Apple has underperformed both the Nasdaq 100 and the S&P 500 in 2024.