Jacob Sonenshine, a market reporter for Barron's, discusses the significant financial repercussions for Google and Apple following a European Union court ruling that required them to pay billions in back taxes and fines. This ruling is likely to have a lasting impact on the valuation and performance of Big Tech stocks in the future.
The fallout from the EU ruling may lead to increased regulatory scrutiny and potentially reduced profit margins for both Google and Apple. This could negatively affect their stock performance as investor confidence may wane due to the financial liabilities imposed by the ruling.
Apple may also face similar challenges as it navigates the implications of the ruling. Investors might react by selling off shares, leading to a decline in its stock price in the short term as markets digest the consequences of the fines and potential future regulations.
Laffer Tengler CEO and CIO Nancy Tengler discusses investment opportunities and more on ‘Making Money.'
Oct 11, 2024, 2:24 AM
Taiwan’s government said that they had been accused of a breach of trust, but that their employer, Foxconn, had denied the company suffered any losses.
Oct 11, 2024, 12:20 AM
The Taiwanese government suggested the detentions may be a case of "abuse of power" by Chinese police.