There's an app for that ...

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CLASS APP-TION

iPhone users will have their day in court. 

According to the Supreme Court, which ruled 5-4 against Apple, iPhone users will be allowed to move forward with their antitrust suit against the Cupertino-based phone maker. iPhone users claim that the 30% Apple is skimming off the top on any App Store purchase is an unfair use of monopoly and that the resulting inflation on app prices is sent down the line to consumers.

What do you have to say for yourselves? 

Apple’s claim was that only the app developers, and not the end consumers themselves, should be able to bring such a suit to court. The firm also argued that it was not a monopoly, but instead a platform for developers to set their own prices. Of course, it's the only platform.

In a statement from Justice Brett Kavanaugh, it was established only that consumers themselves have the right to sue the company vs. a confirmation by the highest court in the land that Apple violated any antitrust laws. 

Oddly enough, it was the court’s four liberal judges that joined Kavanaugh in his ruling, while the dissenting opinion was penned by Neil Gorsuch, President Trump’s other Supreme Court appointee. I’ll take “things I’d never imagine happening in a million years” for 400, Alex.  

Apple’s stock fell 5.3% on the news, but don’t worry, the new iPhone probably won’t fold in half! 

Supreme Court deals Apple major setback in App Store antitrust case  [CNBC]

IN OTHER NEWS

- China comes out swinging [NYT]

- Bayer just keeps putting up bricks [WSJ]

- Things just went from bad to worse for Uber [ArsTechnica]

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By US Department of Labor (Working_Families_MA009) [Public domain], via Wikimedia Commons

Opening Bell 5.10.19

Wait, so you're telling me there is ANOTHER one of these Facebook billionaire dweebs floating around out there talking about smoked meats?