Apple dropped 2.5% after antitrust ruling

Apple (AAPL.US) stock fell roughly 2.5% during today’s US trading session after antitrust ruling issued by judge. The US tech giant was ordered by a court to allow developers to steer consumers to outside payment methods for mobile apps - such ruling may be seen as a severe blow to the iPhone maker, particularly the profitability of its App Store. According to Bloomberg, the App Store takes in more than $20 billion a year with a profit margin above 75%. Epic Games sued Apple more than a year ago over highs fees in its App Store. Apple is expected to appeal the decision.

Apple (AAPL.US) shares tumbled towards the $150 mark - an important short-term level marked with 2 local peaks from July. The area near $144 should serve as the next important support if declines continue. It is surely worth to watch how to situation develops as Apple may actually weigh on S&P 500 results due to its enormous market capitalisation. Source: xStation5

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