The European Union fined Apple (AAPL, Financials) $570 million and Meta Platforms (META, Financials) $228 million on Wednesday, the first major penalties under its new Digital Markets Act a law aimed at curbing the power of Big Tech.
The two companies have two months to comply or risk daily fines. Apple said it will appeal, calling the decision unfair and claiming the EU is forcing it to give away proprietary technology. Meta also pushed back, saying the rules hurt U.S. firms while letting European and Chinese companies operate under lighter standards.
The EU cited Apple's limits on how app developers can steer users to cheaper payment options outside its App Store. Regulators also criticized the iPhone maker's new Core Technology Fee, saying it discourages competition.
Meta's fine stems from a data model launched in 2023 that gave users a choice: agree to tracking and get Facebook and Instagram for free, or pay for an ad-free version. Regulators found the original setup breached EU rules, though Meta tweaked it in 2024 and is now in talks to ensure compliance.
The fines are lower than past EU penalties, which have sometimes topped the billion-dollar mark. Officials said they focused on enforcement over punishment, given the short duration of the violations.
Alphabet (GOOGL, Financials) and Elon Musk's X platform remain under investigation.
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